Idaho Strategic Resources (NYSEAMERICAN:IDR) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Idaho Strategic Resources (NYSEAMERICAN:IDR) from a hold rating to a strong sell rating in a report issued on Thursday morning,Zacks.com reports.

Idaho Strategic Resources Trading Up 5.0%

Shares of Idaho Strategic Resources stock opened at $32.67 on Thursday. The firm has a market cap of $517.17 million, a price-to-earnings ratio of 22.53 and a beta of 1.23. The business has a 50-day moving average price of $31.82 and a 200-day moving average price of $35.86. The company has a quick ratio of 11.66, a current ratio of 12.17 and a debt-to-equity ratio of 0.01. Idaho Strategic Resources has a twelve month low of $24.12 and a twelve month high of $54.70.

Idaho Strategic Resources (NYSEAMERICAN:IDR) last issued its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Idaho Strategic Resources had a return on equity of 20.81% and a net margin of 44.00%.The firm had revenue of $10.73 million during the quarter, compared to the consensus estimate of $12.50 million. Equities research analysts anticipate that Idaho Strategic Resources will post 1.37 EPS for the current fiscal year.

Institutional Trading of Idaho Strategic Resources

Several hedge funds have recently modified their holdings of IDR. NewEdge Advisors LLC boosted its position in shares of Idaho Strategic Resources by 108.8% during the 1st quarter. NewEdge Advisors LLC now owns 30,551 shares of the company’s stock valued at $437,000 after acquiring an additional 15,917 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Idaho Strategic Resources by 21.7% in the first quarter. Goldman Sachs Group Inc. now owns 52,099 shares of the company’s stock worth $746,000 after purchasing an additional 9,298 shares during the last quarter. Geode Capital Management LLC increased its position in Idaho Strategic Resources by 127.1% in the second quarter. Geode Capital Management LLC now owns 285,573 shares of the company’s stock worth $3,736,000 after purchasing an additional 159,850 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Idaho Strategic Resources during the second quarter valued at $78,000. Finally, New York State Common Retirement Fund purchased a new stake in Idaho Strategic Resources during the second quarter valued at $98,000. 8.70% of the stock is owned by hedge funds and other institutional investors.

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.