Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Gap Up - Should You Buy?

Key Points

• Idaho Strategic Resources shares opened sharply higher, rising from a prior close of $31.12 to $33.00 before trading at $32.16 on volume of 94,316 shares.
• Analyst sentiment remains positive but has weakened: Zacks Research downgraded the stock from “strong buy” to “hold,” while the broader analyst consensus is “Moderate Buy.”
• The company slightly missed quarterly expectations, reporting $0.23 in earnings per share versus $0.24 expected and revenue of $10.73 million versus $12.50 million forecast, although it posted a 44% net margin and maintains very low debt.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $31.12, but opened at $33.00. Idaho Strategic Resources shares last traded at $32.16, with a volume of 94,316 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research lowered Idaho Strategic Resources from a "strong-buy" rating to a "hold" rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Idaho Strategic Resources Stock Performance

The stock has a 50-day moving average price of $31.90 and a 200 day moving average price of $35.88. The company has a quick ratio of 11.66, a current ratio of 12.17 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $510.52 million, a price-to-earnings ratio of 22.24 and a beta of 1.23.

Idaho Strategic Resources (NYSEAMERICAN:IDR - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Idaho Strategic Resources had a net margin of 44.00% and a return on equity of 20.81%. The firm had revenue of $10.73 million during the quarter, compared to analyst estimates of $12.50 million. On average, analysts forecast that Idaho Strategic Resources, Inc. will post 1.37 EPS for the current year.

Institutional Investors Weigh In On Idaho Strategic Resources

Institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in shares of Idaho Strategic Resources by 243.1% during the fourth quarter. State Street Corp now owns 890,401 shares of the company's stock worth $35,883,000 after purchasing an additional 630,891 shares in the last quarter. Vanguard Group Inc. raised its stake in Idaho Strategic Resources by 10.6% in the third quarter. Vanguard Group Inc. now owns 726,335 shares of the company's stock valued at $24,543,000 after buying an additional 69,639 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Idaho Strategic Resources by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 492,621 shares of the company's stock worth $19,853,000 after buying an additional 27,663 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Idaho Strategic Resources by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 343,036 shares of the company's stock worth $13,827,000 after buying an additional 44,568 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Idaho Strategic Resources by 39.3% during the 4th quarter. Invesco Ltd. now owns 220,534 shares of the company's stock worth $8,888,000 after buying an additional 62,175 shares during the last quarter. 8.70% of the stock is owned by hedge funds and other institutional investors.

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.

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