Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Down 6.1% – Here’s What Happened

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR) fell 6.1% during trading on Thursday . The stock traded as low as $45.40 and last traded at $46.18. 69,670 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 545,781 shares. The stock had previously closed at $49.20.

Wall Street Analyst Weigh In

Separately, Roth Capital reaffirmed a “buy” rating on shares of Idaho Strategic Resources in a research note on Friday, December 12th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Idaho Strategic Resources has an average rating of “Buy” and an average target price of $17.50.

Idaho Strategic Resources Stock Down 6.6%

The firm has a market cap of $716.20 million, a P/E ratio of 65.63 and a beta of 0.97. The firm’s 50 day moving average is $38.79 and its two-hundred day moving average is $30.67. The company has a current ratio of 8.55, a quick ratio of 8.34 and a debt-to-equity ratio of 0.02.

Idaho Strategic Resources (NYSEAMERICAN:IDR) last posted its earnings results on Wednesday, November 12th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $11.08 million for the quarter, compared to analyst estimates of $9.40 million. Idaho Strategic Resources had a net margin of 27.82% and a return on equity of 18.60%. As a group, research analysts anticipate that Idaho Strategic Resources, Inc. will post 0.65 EPS for the current fiscal year.

Insider Activity at Idaho Strategic Resources

In other news, CEO John Swallow sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $43.44, for a total value of $1,303,200.00. Following the completion of the transaction, the chief executive officer owned 665,778 shares in the company, valued at $28,921,396.32. This represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Scott Beaven sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $34.64, for a total transaction of $69,280.00. Following the completion of the transaction, the director directly owned 11,183 shares of the company’s stock, valued at approximately $387,379.12. The trade was a 15.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,000 shares of company stock valued at $2,206,880 in the last quarter. Corporate insiders own 8.69% of the company’s stock.

Institutional Trading of Idaho Strategic Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey bought a new stake in Idaho Strategic Resources during the second quarter worth $39,000. Newbridge Financial Services Group Inc. bought a new position in Idaho Strategic Resources during the 3rd quarter worth $47,000. Russell Investments Group Ltd. bought a new stake in Idaho Strategic Resources during the third quarter worth about $48,000. AlphaQuest LLC lifted its position in Idaho Strategic Resources by 6,301.6% during the second quarter. AlphaQuest LLC now owns 3,969 shares of the company’s stock worth $52,000 after purchasing an additional 3,907 shares during the period. Finally, Caitlin John LLC acquired a new stake in Idaho Strategic Resources during the third quarter worth about $53,000. Institutional investors and hedge funds own 8.70% of the company’s stock.

Idaho Strategic Resources Company Profile

Idaho Strategic Resources, Inc, a resource-based company, engages in exploring for, developing, and extracting gold, silver, and base metal mineral resources in the Greater Coeur d'Alene Mining District of North Idaho. Its portfolio of mineral properties includes the Golden Chest Mine, a producing gold mine located in the Murray Gold Belt (MGB) of North Idaho; approximately 1,500 acres of patented mineral property and approximately 5,000 acres of nearby and adjacent un-patented mineral property located within the MGB; rare earth element projects located in the Idaho REE-Th Belt near Salmon, Idaho; and early-stage exploration properties in Central Idaho.