The precious metals sector has surged, especially juniors. ITR is now $761M market cap, after a 263% gain this year so far. Insiders own 2% but have been buying. It has $40M net cash and has moved into positive cash flow. As its mine ramps up, revenue increases and losses have turned to profits. EPS of 35c is expected this year, moving to 55c next year. The stock is still quite cheap if it can hit this target. Six analytsts now cover it, all at buys (target $5.33). It produced 18,000 ounces last quarter at $2,641 all-in costs. We would like to see costs move lower, but with gold at $4,000 it is still highly profitable. Its small size and sector will add to volatility but it looks fine to us. The trading pattern is fairly typical in a sector rally as a company gets de-risked as earnings kick in. Early birds get out, but investors looking for producers get in.
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