Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Down 5.9% - Here's Why

Key Points

• Idaho Strategic Resources' stock price fell by 5.9% to $37.99 during mid-day trading, with a notable decrease in trading volume.
• Despite the drop, Roth Capital maintains a "buy" rating for the company, with an average target price of $17.50 from analysts.
• Recent insider transactions indicate that company executives have sold a total of 268,666 shares valued at over $6 million in the last 90 days, representing a significant decrease in their ownership stakes.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report)'s stock price dropped 5.9% during mid-day trading on Tuesday . The company traded as low as $38.67 and last traded at $37.99. Approximately 162,961 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 358,188 shares. The stock had previously closed at $40.36.

Analyst Upgrades and Downgrades

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

Idaho Strategic Resources Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.78 and a current ratio of 5.11. The company has a market capitalization of $538.03 million, a P/E ratio of 57.16 and a beta of 0.74. The stock's fifty day moving average price is $27.13 and its 200-day moving average price is $19.26.

Insider Activity at Idaho Strategic Resources

In related news, VP Robert John Morgan sold 7,143 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $30.52, for a total transaction of $218,004.36. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $21.00, for a total transaction of $101,409.00. Following the completion of the sale, the insider owned 3,913 shares in the company, valued at $82,173. This represents a 55.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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

A number of hedge funds have recently made changes to their positions in IDR. Two Sigma Investments LP purchased a new position in Idaho Strategic Resources in the fourth quarter valued at about $204,000. Jefferies Financial Group Inc. grew its holdings in Idaho Strategic Resources by 5.7% during the first quarter. Jefferies Financial Group Inc. now owns 19,347 shares of the company's stock valued at $277,000 after purchasing an additional 1,047 shares during the period. Citizens Financial Group Inc. RI purchased a new stake in Idaho Strategic Resources in the first quarter worth $165,000. National Bank of Canada FI bought a new stake in shares of Idaho Strategic Resources in the first quarter valued at $258,000. Finally, American Century Companies Inc. lifted its position in shares of Idaho Strategic Resources by 25.1% during the 1st quarter. American Century Companies Inc. now owns 20,692 shares of the company's stock valued at $296,000 after buying an additional 4,149 shares during the last quarter. 8.70% of the stock is currently owned by institutional investors.

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.

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