Salem Investment Counselors Inc. Boosts Holdings in Idaho Strategic Resources, Inc. $IDR

Key Points

• Salem Investment Counselors Inc. increased its position in Idaho Strategic Resources by 49.2%, now holding 44,555 shares worth around $583,000.
• Several institutional investors, including Northern Trust Corp and Millennium Management LLC, have also boosted their stakes significantly during the last quarter.
• Idaho Strategic Resources recently received a "buy" rating from Roth Capital, with an average consensus price target of $17.50.

Salem Investment Counselors Inc. increased its position in shares of Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Free Report) by 49.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,555 shares of the company's stock after purchasing an additional 14,700 shares during the quarter. Salem Investment Counselors Inc. owned 0.32% of Idaho Strategic Resources worth $583,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Jefferies Financial Group Inc. lifted its stake in shares of Idaho Strategic Resources by 5.7% during the first quarter. Jefferies Financial Group Inc. now owns 19,347 shares of the company's stock worth $277,000 after purchasing an additional 1,047 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Idaho Strategic Resources by 25.1% in the first quarter. American Century Companies Inc. now owns 20,692 shares of the company's stock worth $296,000 after buying an additional 4,149 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Idaho Strategic Resources by 21.7% during the first quarter. Goldman Sachs Group Inc. now owns 52,099 shares of the company's stock valued at $746,000 after buying an additional 9,298 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of Idaho Strategic Resources during the first quarter worth $165,000. Finally, OMERS ADMINISTRATION Corp raised its holdings in shares of Idaho Strategic Resources by 41.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 46,200 shares of the company's stock worth $661,000 after acquiring an additional 13,600 shares in the last quarter. Hedge funds and other institutional investors own 8.70% of the company's stock.

Insider Buying and Selling

In other news, Director Kevin G. Shiell sold 6,500 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $25.03, for a total transaction of $162,695.00. Following the sale, the director owned 49,016 shares of the company's stock, valued at approximately $1,226,870.48. This represents a 11.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Monique D. Hayes sold 4,829 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $21.00, for a total transaction of $101,409.00. Following the completion of the sale, the insider directly owned 3,913 shares in the company, valued at approximately $82,173. This trade represents a 55.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,053 shares of company stock valued at $3,162,045. 8.69% of the stock is owned by corporate insiders.

Idaho Strategic Resources Stock Up 0.7%

Shares of NYSEAMERICAN:IDR traded up $0.21 during trading on Friday, reaching $29.38. The stock had a trading volume of 143,120 shares, compared to its average volume of 339,481. The firm's 50-day simple moving average is $23.80 and its 200 day simple moving average is $17.37. The company has a market capitalization of $426.30 million, a P/E ratio of 45.20 and a beta of 0.77. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.04. Idaho Strategic Resources, Inc. has a one year low of $9.67 and a one year high of $32.01.

Wall Street Analysts Forecast Growth

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

Idaho Strategic Resources Company Profile

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.