Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Up 10.5% – Here’s Why

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR) was up 10.5% during mid-day trading on Thursday . The company traded as high as $46.22 and last traded at $46.3250. Approximately 190,000 shares changed hands during trading, a decline of 68% from the average daily volume of 587,287 shares. The stock had previously closed at $41.91.

Analyst Upgrades and Downgrades

Separately, Roth Mkm restated a “buy” rating on shares of Idaho Strategic Resources in a research report on Friday, December 12th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $17.50.

Idaho Strategic Resources Stock Performance

The business’s fifty day moving average is $41.46 and its 200-day moving average is $32.93. The company has a quick ratio of 8.34, a current ratio of 8.55 and a debt-to-equity ratio of 0.02. The company has a market cap of $725.87 million, a PE ratio of 66.52 and a beta of 0.97.

Idaho Strategic Resources (NYSEAMERICAN:IDR) last issued its quarterly 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. Idaho Strategic Resources had a net margin of 27.82% and a return on equity of 18.60%. The business had revenue of $11.08 million for the quarter, compared to analysts’ expectations of $9.40 million. As a group, research analysts predict that Idaho Strategic Resources, Inc. will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling at Idaho Strategic Resources

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

Institutional Investors Weigh In On Idaho Strategic Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDR. Police & Firemen s Retirement System of New Jersey purchased a new position in Idaho Strategic Resources during the second quarter valued at approximately $39,000. Sound Income Strategies LLC raised its position in shares of Idaho Strategic Resources by 4,000.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,025 shares of the company’s stock valued at $45,000 after purchasing an additional 1,000 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Idaho Strategic Resources during the 3rd quarter valued at $47,000. Russell Investments Group Ltd. purchased a new position in shares of Idaho Strategic Resources during the 3rd quarter valued at $48,000. Finally, AlphaQuest LLC boosted its holdings in Idaho Strategic Resources by 6,301.6% in the 2nd quarter. AlphaQuest LLC now owns 3,969 shares of the company’s stock worth $52,000 after buying an additional 3,907 shares during the period. Institutional investors own 8.70% of the company’s stock.

About Idaho Strategic Resources

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.