Bank of New York Mellon Corp Buys New Position in Idaho Strategic Resources, Inc. $IDR

Key Points

• Bank of New York Mellon acquired 81,017 shares of Idaho Strategic Resources in the second quarter, worth approximately $2.65 million and representing a 0.51% stake.
• Idaho Strategic Resources reported quarterly revenue of $10.73 million and earnings of $0.23 per share, falling short of analyst estimates of $12.50 million and $0.24, respectively.
• The stock opened at $31.45, well below its 52-week high of $54.70. Analyst sentiment is mixed, with one Buy and one Sell rating, while Zacks Research downgraded the stock to “strong sell.”

Bank of New York Mellon Corp bought a new stake in shares of Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 81,017 shares of the company's stock, valued at approximately $2,653,000. Bank of New York Mellon Corp owned 0.51% of Idaho Strategic Resources as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in shares of Idaho Strategic Resources by 100.0% in the 1st quarter. International Assets Investment Management LLC now owns 1,000 shares of the company's stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Idaho Strategic Resources in the fourth quarter valued at $38,000. Rockefeller Capital Management L.P. acquired a new position in Idaho Strategic Resources in the fourth quarter valued at $40,000. Global Assets Advisory LLC bought a new stake in Idaho Strategic Resources during the first quarter valued at $45,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Idaho Strategic Resources during the third quarter valued at $47,000. Institutional investors own 8.70% of the company's stock.

Idaho Strategic Resources Price Performance

Idaho Strategic Resources stock opened at $31.45 on Tuesday. The stock has a market capitalization of $497.85 million, a price-to-earnings ratio of 21.69 and a beta of 1.26. Idaho Strategic Resources, Inc. has a 52-week low of $26.02 and a 52-week high of $54.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.66 and a current ratio of 12.17. The stock's 50 day moving average price is $31.25 and its two-hundred day moving average price is $35.37.

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

Analysts Set New Price Targets

Separately, Zacks Research downgraded Idaho Strategic Resources from a "hold" rating to a "strong sell" rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".

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.

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