Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Down 8.5% – What’s Next?

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR) shares were down 8.5% on Monday . The stock traded as low as $35.75 and last traded at $36.3310. Approximately 331,472 shares were traded during trading, a decline of 20% from the average daily volume of 412,407 shares. The stock had previously closed at $39.69.

Analysts Set New Price Targets

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

Idaho Strategic Resources Stock Performance

The company has a current ratio of 8.55, a quick ratio of 8.34 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $604.27 million, a PE ratio of 55.37 and a beta of 0.98. The firm’s 50-day simple moving average is $35.92 and its two-hundred day simple moving average is $25.38.

Idaho Strategic Resources (NYSEAMERICAN:IDR) last issued its earnings results on Wednesday, November 12th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $11.08 million during the quarter, compared to analysts’ expectations of $9.40 million. Idaho Strategic Resources had a return on equity of 18.60% and a net margin of 27.82%. On average, equities research 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 dated Monday, September 22nd. The stock was sold at an average price of $30.52, for a total value of $218,004.36. Following the transaction, the vice president owned 33,796 shares in the company, valued at $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 available at this link. Also, CEO John Swallow sold 87,470 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $30.31, for a total transaction of $2,651,215.70. Following the completion of the sale, the chief executive officer directly owned 695,778 shares of the company’s stock, valued at $21,089,031.18. This trade represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 96,613 shares of company stock valued at $2,938,500 in the last 90 days. 8.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Idaho Strategic Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDR. Vanguard Group Inc. increased its stake in shares of Idaho Strategic Resources by 10.6% during the 3rd quarter. Vanguard Group Inc. now owns 726,335 shares of the company’s stock worth $24,543,000 after purchasing an additional 69,639 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Idaho Strategic Resources in the 3rd quarter valued at $15,711,000. Geode Capital Management LLC boosted its holdings 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 in the last quarter. Punch & Associates Investment Management Inc. increased its position in Idaho Strategic Resources by 14.8% during the third quarter. Punch & Associates Investment Management Inc. now owns 209,655 shares of the company’s stock worth $7,084,000 after buying an additional 27,098 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in Idaho Strategic Resources during the third quarter valued at about $5,616,000. 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.