Idaho Strategic Resources (NYSEAMERICAN:IDR) Sets New 1-Year High - What's Next?

Key Points

• Idaho Strategic Resources shares reached a new 52-week high of $35.47, maintaining a significant trading volume with its last price at $35.05.
• Despite hitting a high, analysts have a consensus price target of $17.50 for the stock, which indicates potential undervaluation compared to its current trading price.
• Insider transactions revealed a substantial sell-off, with insiders selling a total of 268,666 shares valued at over $6 million in the last three months, raising questions about future stock performance.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report) shares hit a new 52-week high on Friday . The company traded as high as $35.47 and last traded at $35.05, with a volume of 42979 shares trading hands. The stock had previously closed at $34.74.

Analysts Set New Price Targets

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

Idaho Strategic Resources Stock Performance

The firm has a market capitalization of $507.41 million, a PE ratio of 53.85 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's 50 day simple moving average is $26.38 and its two-hundred day simple moving average is $18.88.

Insider Transactions at Idaho Strategic Resources

In other Idaho Strategic Resources news, insider Monique D. Hayes sold 12,724 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $15.36, for a total transaction of $195,440.64. Following the completion of the sale, the insider directly owned 8,742 shares in the company, valued at $134,277.12. The trade was a 59.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert John Morgan sold 7,143 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $30.52, for a total transaction of $218,004.36. Following the completion of the transaction, the vice president owned 33,796 shares in the company, valued at $1,031,453.92. This trade represents a 17.45% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,666 shares of company stock valued at $6,031,265. Company insiders own 8.69% of the company's stock.

Institutional Investors Weigh In On Idaho Strategic Resources

Several institutional investors and hedge funds have recently modified their holdings of IDR. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Idaho Strategic Resources during the second quarter worth $39,000. AlphaQuest LLC boosted its holdings in shares of Idaho Strategic Resources by 6,301.6% during the 2nd quarter. AlphaQuest LLC now owns 3,969 shares of the company's stock valued at $52,000 after purchasing an additional 3,907 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Idaho Strategic Resources during the second quarter valued at about $78,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Idaho Strategic Resources in the second quarter worth about $90,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Idaho Strategic Resources in the second quarter worth about $98,000. Institutional investors own 8.70% of the company's stock.

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.

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.