Shares of Integra Resources Corp (AMEX:ITRG) tumbled 5.23% in after-hours trading on Wednesday following the release of its third-quarter earnings report. The mining company's results painted a mixed picture, with a significant revenue beat overshadowed by an earnings miss.
Integra reported quarterly earnings of $0.10 per share, falling short of the analyst consensus estimate of $0.12 by 16.67%. Despite missing the mark on earnings, the figure still represents a substantial improvement from the same period last year when the company posted a loss of $0.08 per share. On the revenue front, Integra impressed with quarterly sales of $70.678 million, handily beating the analyst consensus estimate of $37.948 million by 86.25%.
While the dramatic increase in sales suggests strong operational performance, investors appear to be focusing on the earnings miss. The after-hours stock plunge indicates that market participants may be concerned about the company's profitability and cost management despite its robust top-line growth. As trading resumes in the next session, all eyes will be on how the market digests this mixed earnings report and whether the initial negative reaction persists.