Idaho Strategic Resources (NYSEAMERICAN:IDR) Stock Moved Up to "Hold" by Zacks Research

Key Points

• Zacks Research upgraded Idaho Strategic Resources from “strong sell” to “hold.” The stock was trading at $21.40, up 1.7%, with a market capitalization of approximately $338.8 million.
• The company’s latest quarterly results fell slightly short of expectations, reporting $0.23 in EPS versus $0.24 expected and $10.73 million in revenue versus $12.50 million forecast.
• Institutional ownership stands at 8.70%, with several investment firms increasing their positions. Idaho Strategic Resources is focused on gold and strategic-mineral exploration, development, and production through its Golden Chest project in Idaho.

Idaho Strategic Resources (NYSEAMERICAN:IDR - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday, Zacks reports.

Idaho Strategic Resources Trading Up 1.7%

NYSEAMERICAN IDR opened at $21.40 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.17 and a quick ratio of 11.66. The stock has a market capitalization of $338.76 million, a P/E ratio of 14.51 and a beta of 1.31. The firm's 50-day moving average is $29.03 and its two-hundred day moving average is $33.58. Idaho Strategic Resources has a 12 month low of $20.05 and a 12 month high of $53.30.

Idaho Strategic Resources (NYSEAMERICAN:IDR - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.01). The company had revenue of $10.73 million for the quarter, compared to analyst estimates of $12.50 million. Idaho Strategic Resources had a net margin of 44.00% and a return on equity of 20.81%. On average, sell-side analysts anticipate that Idaho Strategic Resources will post 1.37 earnings per share for the current year.

Institutional Trading of Idaho Strategic Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. raised its holdings in shares of Idaho Strategic Resources by 0.4% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 207,220 shares of the company's stock valued at $6,656,000 after buying an additional 855 shares during the period. Navellier & Associates Inc. lifted its stake in Idaho Strategic Resources by 42.7% during the 2nd quarter. Navellier & Associates Inc. now owns 156,851 shares of the company's stock worth $5,137,000 after acquiring an additional 46,970 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Idaho Strategic Resources during the 2nd quarter worth about $2,653,000. Principal Financial Group Inc. lifted its stake in Idaho Strategic Resources by 144.4% during the 1st quarter. Principal Financial Group Inc. now owns 53,445 shares of the company's stock worth $1,717,000 after acquiring an additional 31,576 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Idaho Strategic Resources by 542.5% during the 1st quarter. Quantinno Capital Management LP now owns 40,111 shares of the company's stock valued at $1,288,000 after acquiring an additional 33,868 shares during the period. Hedge funds and other institutional investors own 8.70% of the company's stock.

Idaho Strategic Resources Company Profile

Idaho Strategic Resources, Inc is a mineral exploration, development and production company focused on gold and other strategic minerals in Idaho. The company's activities include acquiring, exploring and developing mineral properties, as well as operating assets capable of supporting gold production.

Its principal asset is the Golden Chest Gold Project in northern Idaho, which includes an underground mine and a processing mill near Murray. The company has worked to advance mining and processing operations at Golden Chest while continuing exploration intended to expand known mineral resources and identify additional mineralized areas.

Idaho Strategic Resources was formerly known as New Jersey Mining Company and adopted its current name in 2021 to reflect its focus on Idaho-based mineral assets and strategic resources.

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