Idaho Strategic Resources (NYSEAMERICAN:IDR) Trading 8.2% Higher – Here’s Why

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR)’s stock price rose 8.2% during trading on Friday . The stock traded as high as $39.46 and last traded at $39.69. Approximately 237,435 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 412,878 shares. The stock had previously closed at $36.68.

Analyst Upgrades and Downgrades

Separately, Roth Capital reaffirmed a “buy” rating on shares of Idaho Strategic Resources in a research report on Monday, September 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $17.50.

Idaho Strategic Resources Stock Performance

The business has a 50-day moving average of $35.45 and a two-hundred day moving average of $24.68. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.55 and a quick ratio of 8.34. The company has a market cap of $610.82 million, a P/E ratio of 55.97 and a beta of 0.72.

Idaho Strategic Resources (NYSEAMERICAN:IDR) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.20 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $9.40 million. On average, sell-side analysts predict that Idaho Strategic Resources, Inc. will post 0.65 EPS for the current fiscal year.

Insider Activity at Idaho Strategic Resources

In other news, VP Robert John Morgan sold 7,143 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $30.52, for a total transaction of $218,004.36. Following the transaction, the vice president directly owned 33,796 shares of the company’s stock, valued at approximately $1,031,453.92. This represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Scott Beaven sold 2,000 shares of the stock in a transaction 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 sale, the director owned 11,183 shares of the company’s stock, valued at approximately $387,379.12. This represents a 15.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 96,613 shares of company stock valued at $2,938,500 over the last 90 days. Insiders own 8.69% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Prelude Capital Management LLC purchased a new stake in Idaho Strategic Resources in the third quarter valued at about $215,000. Punch & Associates Investment Management Inc. boosted its stake in Idaho Strategic Resources by 14.8% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 209,655 shares of the company’s stock worth $7,084,000 after purchasing an additional 27,098 shares in the last quarter. Millennium Management LLC boosted its stake in Idaho Strategic Resources by 229.2% in the 3rd quarter. Millennium Management LLC now owns 41,864 shares of the company’s stock worth $1,415,000 after purchasing an additional 29,146 shares in the last quarter. Jain Global LLC purchased a new stake in Idaho Strategic Resources during the 3rd quarter worth approximately $748,000. Finally, Brevan Howard Capital Management LP acquired a new position in Idaho Strategic Resources during the 3rd quarter valued at approximately $5,616,000. 8.70% of the stock is owned by institutional investors and hedge funds.

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.