Idaho Strategic Resources (NYSEAMERICAN:IDR) Reaches New 1-Year High - Time to Buy?

Key Points

• Idaho Strategic Resources reached a new 52-week high of $42.83, with a trading volume of over 898,000 shares, indicating strong investor interest.
• Wall Street analysts maintain a consensus "Buy" rating for the stock, with an average price target projected at $17.50, despite its current trading price being significantly higher.
• Recent insider trading activity shows Vice President Robert John Morgan sold 7,143 shares, decreasing his ownership by 17.45%, signaling potential fluctuations in insider confidence.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $42.83 and last traded at $42.33, with a volume of 898514 shares changing hands. The stock had previously closed at $38.23.

Wall Street Analysts Forecast Growth

Separately, Roth Capital restated 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 MarketBeat, Idaho Strategic Resources presently has a consensus rating of "Buy" and an average price target of $17.50.

Idaho Strategic Resources Trading Up 1.4%

The firm has a market cap of $623.00 million, a PE ratio of 66.08 and a beta of 0.74. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $28.05 and a 200 day moving average price of $19.64.

Insider Transactions at Idaho Strategic Resources

In related news, VP Robert John Morgan sold 7,143 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $30.52, for a total value of $218,004.36. Following the completion of the sale, the vice president directly owned 33,796 shares of the company's stock, valued at $1,031,453.92. This represents a 17.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Monique D. Hayes sold 4,829 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $21.00, for a total value of $101,409.00. Following the completion of the sale, the insider directly owned 3,913 shares of the company's stock, valued at approximately $82,173. This trade represents a 55.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,942 shares of company stock valued at $4,308,824 in the last 90 days. Company insiders own 8.69% of the company's stock.

Hedge Funds Weigh In On Idaho Strategic Resources

Several hedge funds have recently bought and sold shares of IDR. Geode Capital Management LLC increased its stake in Idaho Strategic Resources by 127.1% in the 2nd quarter. Geode Capital Management LLC now owns 285,573 shares of the company's stock valued at $3,736,000 after purchasing an additional 159,850 shares in the last quarter. Evernest Financial Advisors LLC purchased a new position in Idaho Strategic Resources in the 2nd quarter valued at approximately $396,000. Stonebridge Wealth Management LLC purchased a new position in Idaho Strategic Resources during the second quarter worth $328,000. Man Group plc purchased a new position in Idaho Strategic Resources during the second quarter worth $319,000. Finally, FNY Investment Advisers LLC purchased a new position in Idaho Strategic Resources during the second quarter worth $288,000. 8.70% of the stock is owned by hedge funds and other institutional investors.

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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