Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Gap Down - Time to Sell?

Key Points

• Idaho Strategic Resources shares **gapped down** from a previous closing price of **$44.05** to open at **$40.38**, reflecting a significant market movement.
• Analysts maintain a **"buy" rating** for the stock, with a consensus price target of **$17.50**, despite the recent price decline.
• Insiders have recently sold a combined total of **151,113 shares** worth over **$4 million**, indicating potential concerns about the stock's performance.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $44.05, but opened at $40.38. Idaho Strategic Resources shares last traded at $39.88, with a volume of 249,861 shares changing hands.

Analysts Set New Price Targets

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

Idaho Strategic Resources Stock Down 9.3%

The firm has a market capitalization of $579.47 million, a PE ratio of 61.41 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 $31.34 and its 200 day simple moving average is $20.94.

Insiders Place Their Bets

In other Idaho Strategic Resources news, Director Kevin G. Shiell sold 6,500 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $25.03, for a total transaction of $162,695.00. Following the completion of the transaction, the director owned 49,016 shares of the company's stock, valued at $1,226,870.48. This trade represents a 11.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert John Morgan sold 7,143 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 33,796 shares of the company's stock, valued at approximately $1,031,453.92. The trade was a 17.45% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,113 shares of company stock worth $4,207,415. Company insiders own 8.69% of the company's stock.

Institutional Trading of Idaho Strategic Resources

Several institutional investors and hedge funds have recently bought and sold shares of IDR. Raymond James Financial Inc. grew its position in Idaho Strategic Resources by 1.3% in the 2nd quarter. Raymond James Financial Inc. now owns 47,223 shares of the company's stock valued at $618,000 after buying an additional 608 shares during the last quarter. Jefferies Financial Group Inc. boosted its position in shares of Idaho Strategic Resources by 5.7% in the 1st quarter. Jefferies Financial Group Inc. now owns 19,347 shares of the company's stock worth $277,000 after buying an additional 1,047 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Idaho Strategic Resources by 21.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 14,000 shares of the company's stock worth $183,000 after buying an additional 2,500 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Idaho Strategic Resources by 42.8% in the 2nd quarter. Osaic Holdings Inc. now owns 8,604 shares of the company's stock worth $113,000 after buying an additional 2,579 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its position in shares of Idaho Strategic Resources by 6.5% in the 3rd quarter. Salem Investment Counselors Inc. now owns 47,455 shares of the company's stock worth $1,604,000 after buying an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 8.70% of the company's stock.

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.