Idaho Strategic Resources (NYSEAMERICAN:IDR) Stock Price Down 9.5% After Earnings Miss

Shares of Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR) dropped 9.5% on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $47.02 and last traded at $46.3320. Approximately 35,251 shares changed hands during trading, a decline of 90% from the average daily volume of 358,126 shares. The stock had previously closed at $51.21.

The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $14.48 million for the quarter, compared to the consensus estimate of $14.30 million. Idaho Strategic Resources had a return on equity of 26.89% and a net margin of 43.33%.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Idaho Strategic Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Strong Buy”.

Institutional Investors Weigh In On Idaho Strategic Resources

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in Idaho Strategic Resources in the fourth quarter valued at approximately $38,000. Rockefeller Capital Management L.P. purchased a new stake in Idaho Strategic Resources in the fourth quarter worth $40,000. International Assets Investment Management LLC raised its stake in shares of Idaho Strategic Resources by 100.0% in the first quarter. International Assets Investment Management LLC now owns 1,000 shares of the company’s stock valued at $34,000 after buying an additional 500 shares during the period. Sound Income Strategies LLC raised its stake in shares of Idaho Strategic Resources by 4,000.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,025 shares of the company’s stock valued at $45,000 after buying an additional 1,000 shares during the period. Finally, Global Assets Advisory LLC purchased a new position in shares of Idaho Strategic Resources during the 1st quarter valued at $45,000. Institutional investors own 8.70% of the company’s stock.

Idaho Strategic Resources Price Performance

The company has a current ratio of 13.96, a quick ratio of 13.70 and a debt-to-equity ratio of 0.01. The stock has a market cap of $603.78 million, a PE ratio of 26.89 and a beta of 1.21. The business has a 50-day moving average price of $38.26 and a 200 day moving average price of $39.11.

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.