Franklin Resources Cuts Integra Resources Stake to 5.0%

TL;DR

**Franklin Resources cut its stake in Integra Resources to 5.0%, a bearish signal.**

AI Summary

Franklin Resources, Inc., a major investment advisor, filed an amended SC 13G/A on February 6, 2024, disclosing its beneficial ownership in Integra Resources Corp. As of December 31, 2023, Franklin Resources held 10,750,000 common shares of Integra Resources, representing 5.0% of the company's outstanding shares. This is a decrease from their previous reported ownership, indicating they have reduced their stake, which could signal a shift in their investment strategy or outlook on Integra Resources' future performance.

Why It Matters

A significant institutional investor reducing its stake can signal a lack of confidence, potentially leading to downward pressure on the stock price as other investors might follow suit.

Risk Assessment

Risk Level: medium — The reduction in ownership by a large institutional investor like Franklin Resources could indicate a perceived increase in risk or a less favorable outlook for Integra Resources.

Analyst Insight

Investors should investigate why Franklin Resources reduced its stake, potentially reviewing Integra Resources' recent financial performance and future outlook before making investment decisions. This could be a signal to re-evaluate the stock's potential.

Key Numbers

• 10,750,000 — Common Shares (beneficially owned by Franklin Resources, Inc. as of December 31, 2023)
• 5.0% — Percentage of Class (representing Franklin Resources, Inc.'s beneficial ownership in Integra Resources Corp.)
• December 31, 2023 — Date of Event (the date on which the ownership percentage was determined for this filing)
• February 6, 2024 — Filing Date (when the SC 13G/A amendment was filed)

Key Players & Entities

• Franklin Resources, Inc. (company) — the reporting person and investment advisor
• Integra Resources Corp. (company) — the subject company, a gold and silver ores producer
• Delaware (company) — state of incorporation for Franklin Resources, Inc.
• Vancouver (company) — city of business address for Integra Resources Corp.

Forward-Looking Statements

• Integra Resources Corp.'s stock price may experience downward pressure in the short term. (Integra Resources Corp.) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• inte23a3.htm (SC 13G/A) — 189KB
• 0000038777-24-000016.txt ( ) — 191KB

If this statement is filed pursuant to 240.13d1(b) or 240.13d2(b) or (c),

Item 3. If this statement is filed pursuant to 240.13d1(b) or 240.13d2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a8). (e) [X] An investment adviser in accordance with 240.13d1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d1(b)(1)(ii)(F); (g) [X] A parent holding company or control person in accordance with 240.13d1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a3); (j) [ ] A nonU.S. institution in accordance with 240.13d1(b)(ii)(J); (k) [ ] Group, in accordance with 240.13d 1(b)(1)(ii)(K). If filing as a nonU.S. institution in accordance with 240.13d1(b)(1)(ii) (J). please specify the type of institution:

Ownership

Item 4. Ownership The securities reported herein are beneficially owned by one or more open or closed end investment companies or other managed accounts that are investment management clients of investment managers that are direct and indirect subsidiaries (each, an "Investment Management Subsidiary" and, collectively, the "Investment Management Subsidiaries") of Franklin Resources Inc. ("FRI"), including the Investment Management Subsidiaries listed in this Item 4. When an investment management contract (including a sub advisory agreement) delegates to an Investment Management Subsidiary investment discretion or voting power over the securities held in the investment advisory accounts that are investment discretion or voting authority, as the case may be, unless the agreement specifies otherwise. Accordingly, each Investment Management Subsidiary reports on Schedule 13G that it has sole investment discretion and voting authority over the securities covered by any such investment management agreement, unless otherwise noted in this Item 4. As a result, for purposes of Rule 13d3 under the Act, the Investment Management Subsidiaries listed in this Item 4 may be deemed to be the beneficial owners of the securities reported in this Schedule 13G. Beneficial ownership by Investment Management Subsidiaries and other FRI affiliates is being reported in conformity with the guidelines articulated by the SEC staff in Release No. 3439538 (January 12, 1998) (the "1998 Release") relating to organizations, such as FRI, where related entities exercise voting and investment powers over the securities being reported independently from each other. The voting and investment powers held by each of FRI's affiliates whose ownership of securities is disaggregated from that of FRI in accordance with the 1998 Release ("FRI Disaggregated Affiliates") are exer

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person The clients of the Investment Management Subsidiaries, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or power to direct the receipt of dividends from, and the proceeds from the sale of, the securities reported herein. Franklin Gold And Precious Metals Fund, a series of Franklin Gold and Precious Metals Fund, an investment company registered under the Investment Company Act of 1940, has an interest in 4,423,320 shares, or 6.1%, of the class of securities reported herein.

Identification and Classification of the Subsidiary Which Acquired the

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company See Attached Exhibit C

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group Not Applicable

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not Applicable CUSIP NO. 45826T509 13G Page 10 of 14

Certification

Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a11. This report shall not be construed as an admission by the persons filing the report that they are the beneficial owner of any securities covered by this report. Exhibits. Exhibit A Joint Filing Agreement Exhibit B Limited Powers of Attorney for Section 13 Reporting Obligations Exhibit C Item 7 Identification and Classification of Subsidiaries SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 22, 2024 Franklin Resources, Inc. Charles B. Johnson Rupert H. Johnson, Jr. Franklin Advisers, Inc. By: /s/VIRGINIA E. ROSAS Virginia E. Rosas Assistant Secretary of Franklin Resources, Inc. AttorneyinFact for Charles B. Johnson pursuant to Power of Attorney attached to this Schedule 13G AttorneyinFact for Rupert H. Johnson, Jr. pursuant to Power of Attorney attached to this Schedule 13G Secretary of Franklin Advisers, Inc. Franklin Gold and Precious Metals Fund By: /s/ALISON E. BAUR Alison E. Baur Vice President and Assistant Secretary of Franklin Gold and Precious Metals Fund CUSIP NO. 45826T509 13G Page 11 of 14 EXHIBIT A JOINT FILING AGREEMENT In accordance with Rule 13d1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with each other of the attached statement on Schedule 13

View Full Filing

View this SC 13G/A filing on SEC EDGAR