Idaho Strategic Resources (NYSEAMERICAN:IDR) Reaches New 12-Month High - What's Next?

Key Points

• Idaho Strategic Resources shares reached a new 52-week high of $54.70 during trading on Wednesday, with a notable trading volume of 1,363,689 shares.
• Analysts have given Idaho Strategic Resources a "buy" rating with an average price target of $17.50, despite the stock's recent high performance.
• Insider trading activity included significant sales by Director Kevin G. Shiell and CEO John Swallow, reflecting an 11% decrease in their positions.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $54.70 and last traded at $52.66, with a volume of 1363689 shares trading hands. The stock had previously closed at $48.81.

Analyst Ratings Changes

Separately, Roth Capital restated 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 an average rating of "Buy" and an average price target of $17.50.

Idaho Strategic Resources Stock Up 7.9%

The company has a market cap of $764.10 million, a price-to-earnings ratio of 81.02 and a beta of 0.74. The firm has a 50-day moving average price of $30.36 and a 200 day moving average price of $20.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.11 and a quick ratio of 4.78.

Insider Buying and Selling at Idaho Strategic Resources

In other Idaho Strategic Resources news, Director Kevin G. Shiell sold 6,500 shares of Idaho Strategic Resources stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $25.03, for a total value of $162,695.00. Following the completion of the sale, the director owned 49,016 shares in the company, valued at $1,226,870.48. The trade was a 11.71% 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, CEO John Swallow sold 87,470 shares of the business's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $30.31, for a total transaction of $2,651,215.70. Following the completion of the sale, the chief executive officer directly owned 695,778 shares of the company's stock, valued at $21,089,031.18. This represents a 11.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 155,942 shares of company stock worth $4,308,824. Insiders own 8.69% of the company's stock.

Hedge Funds Weigh In On Idaho Strategic Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Idaho Strategic Resources during the 2nd quarter worth approximately $39,000. AlphaQuest LLC lifted its stake in Idaho Strategic Resources by 6,301.6% during the second quarter. AlphaQuest LLC now owns 3,969 shares of the company's stock worth $52,000 after purchasing an additional 3,907 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Idaho Strategic Resources in the 2nd quarter valued at $78,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Idaho Strategic Resources in the 2nd quarter valued at $90,000. Finally, New York State Common Retirement Fund bought a new position in shares of Idaho Strategic Resources in the 2nd quarter valued at $98,000. 8.70% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.