Idaho Strategic Resources (NYSEAMERICAN:IDR) Stock Price Up 9.9% – Here’s What Happened

Shares of Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR) traded up 9.9% during trading on Thursday . The company traded as high as $44.00 and last traded at $43.8860. 134,232 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 411,194 shares. The stock had previously closed at $39.92.

Analysts Set New Price Targets

Separately, Roth Capital reiterated a “buy” rating on shares of Idaho Strategic Resources in a report on Friday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $17.50.

Idaho Strategic Resources Price Performance

The firm has a market capitalization of $687.67 million, a P/E ratio of 63.02 and a beta of 0.98. The stock’s 50 day simple moving average is $36.99 and its 200 day simple moving average is $26.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.34 and a current ratio of 8.55.

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

Insider Buying and Selling at Idaho Strategic Resources

In other news, VP Robert John Morgan sold 7,143 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $30.52, for a total value of $218,004.36. Following the completion of the sale, the vice president owned 33,796 shares of the company’s stock, valued at approximately $1,031,453.92. This represents a 17.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Scott Beaven sold 2,000 shares of Idaho Strategic Resources stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $34.64, for a total transaction of $69,280.00. Following the transaction, the director directly owned 11,183 shares in the company, valued at approximately $387,379.12. The trade was a 15.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 96,613 shares of company stock valued at $2,938,500. Company insiders own 8.69% of the company’s stock.

Institutional Trading of Idaho Strategic Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp acquired a new position in shares of Idaho Strategic Resources during the third quarter valued at about $15,711,000. Brevan Howard Capital Management LP purchased a new stake in Idaho Strategic Resources during the 3rd quarter worth approximately $5,616,000. Geode Capital Management LLC increased its stake in Idaho Strategic Resources by 127.1% during the 2nd quarter. Geode Capital Management LLC now owns 285,573 shares of the company’s stock valued at $3,736,000 after purchasing an additional 159,850 shares in the last quarter. Invesco Ltd. purchased a new position in shares of Idaho Strategic Resources in the third quarter worth $5,351,000. Finally, Thames Capital Management LLC acquired a new stake in shares of Idaho Strategic Resources during the third quarter worth $4,313,000. Hedge funds and other 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.