Idaho Strategic Resources (NYSEAMERICAN:IDR) Hits New 12-Month High - Should You Buy?

Key Points

• Idaho Strategic Resources (NYSEAMERICAN:IDR) reached a new 52-week high at $35.47, indicating strong market performance with a last trade at $35.26 and a trading volume of 233,776 shares.
• Analysts from Roth Capital have reiterated a buy rating for the stock, with a consensus target price of $17.50, reflecting positive sentiment among market analysts.
• Insider selling has been notable, with key executives, including the CEO and a director, reducing their stock holdings by over 11%, raising potential concerns for investors about internal confidence in the company.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $35.47 and last traded at $35.26, with a volume of 233776 shares traded. The stock had previously closed at $32.54.

Wall Street Analyst Weigh In

Separately, Roth Capital reaffirmed 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 data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $17.50.

Idaho Strategic Resources Stock Up 4.0%

The company has a debt-to-equity ratio of 0.04, a current ratio of 5.11 and a quick ratio of 4.78. The business's 50 day moving average price is $24.99 and its 200-day moving average price is $18.07. The company has a market cap of $491.16 million, a P/E ratio of 52.08 and a beta of 0.77.

Insider Transactions at Idaho Strategic Resources

In other Idaho Strategic Resources news, Director Kevin G. Shiell sold 6,500 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $25.03, for a total transaction of $162,695.00. Following the completion of the transaction, the director owned 49,016 shares of the company's stock, valued at $1,226,870.48. This represents a 11.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John Swallow sold 87,470 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $30.31, for a total value of $2,651,215.70. Following the completion of the sale, the chief executive officer owned 695,778 shares in the company, valued at approximately $21,089,031.18. This trade represents a 11.17% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,666 shares of company stock worth $6,031,265. Company insiders own 8.69% of the company's stock.

Institutional Trading of Idaho Strategic Resources

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new stake in shares of Idaho Strategic Resources during the 4th quarter worth $270,000. Millennium Management LLC grew its holdings in shares of Idaho Strategic Resources by 169.6% during the 4th quarter. Millennium Management LLC now owns 120,768 shares of the company's stock worth $1,231,000 after purchasing an additional 75,969 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Idaho Strategic Resources by 49.2% during the 2nd quarter. Salem Investment Counselors Inc. now owns 44,555 shares of the company's stock worth $583,000 after purchasing an additional 14,700 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Idaho Strategic Resources by 21.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 52,099 shares of the company's stock worth $746,000 after purchasing an additional 9,298 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Idaho Strategic Resources during the 1st quarter worth $258,000. 8.70% of the stock is owned by institutional investors and hedge funds.

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.

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