Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Gap Up – Should You Buy?

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR) gapped up before the market opened on Friday . The stock had previously closed at $31.12, but opened at $33.00. Idaho Strategic Resources shares last traded at $32.16, with a volume of 94,316 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research cut Idaho Strategic Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Idaho Strategic Resources presently has a consensus rating of “Moderate Buy”.

Idaho Strategic Resources Stock Performance

The company has a current ratio of 12.17, a quick ratio of 11.66 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $31.90 and its 200-day moving average price is $35.88. The firm has a market cap of $510.52 million, a price-to-earnings ratio of 22.24 and a beta of 1.23.

Idaho Strategic Resources (NYSEAMERICAN:IDR) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.23 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 company had revenue of $10.73 million for the quarter, compared to analyst estimates of $12.50 million. Analysts expect that Idaho Strategic Resources, Inc. will post 1.37 earnings per share for the current year.

Hedge Funds Weigh In On Idaho Strategic Resources

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