Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Gap Down on Disappointing Earnings

Key Points

• Idaho Strategic Resources shares fell sharply after the company reported quarterly EPS of $0.23, below the $0.24 consensus estimate, while revenue of $10.73 million missed expectations of $12.50 million. The stock opened at $30.10 versus its prior close of $34.72.
• Zacks Research downgraded the company from “strong buy” to “hold.” Despite the change, analyst coverage remains split between Buy and Hold, resulting in a “Moderate Buy” consensus rating.
• The company maintains a strong balance sheet, with a debt-to-equity ratio of 0.01 and a current ratio of 12.77. Institutional investors own 8.70% of the stock, while the shares trade about 10.1% below recent levels.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report) shares gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $34.72, but opened at $30.10. Idaho Strategic Resources shares last traded at $31.6510, with a volume of 150,134 shares traded.

The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Idaho Strategic Resources had a net margin of 43.33% and a return on equity of 23.94%. The company had revenue of $10.73 million during the quarter, compared to analyst estimates of $12.50 million.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded Idaho Strategic Resources from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Institutional Trading of Idaho Strategic Resources

Hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in Idaho Strategic Resources in the fourth quarter valued at approximately $38,000. Rockefeller Capital Management L.P. acquired a new stake in Idaho Strategic Resources during the fourth quarter worth $40,000. International Assets Investment Management LLC increased its stake in Idaho Strategic Resources by 100.0% during the first quarter. International Assets Investment Management LLC now owns 1,000 shares of the company's stock worth $34,000 after acquiring an additional 500 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Idaho Strategic Resources in the first quarter valued at $45,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Idaho Strategic Resources in the third quarter valued at $47,000. Hedge funds and other institutional investors own 8.70% of the company's stock.

Idaho Strategic Resources Trading Down 10.1%

The company has a 50 day moving average price of $32.15 and a 200 day moving average price of $36.28. The firm has a market cap of $493.59 million, a price-to-earnings ratio of 21.99 and a beta of 1.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.48 and a current ratio of 12.77.

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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