Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Gap Up - Time to Buy?

Key Points

• Idaho Strategic Resources' stock price experienced a significant jump, opening at $49.86 after closing at $43.85, indicating a marked interest from traders.
• Analysts maintain a consensus rating of "Buy" for the stock, with a target price of $17.50, despite the current trading levels reflecting a much higher valuation.
• Recent insider sales indicate a decline in insider ownership, with insiders having sold 155,942 shares worth over $4.3 million in the last three months.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $43.85, but opened at $49.86. Idaho Strategic Resources shares last traded at $48.84, with a volume of 447,434 shares traded.

Analyst Ratings Changes

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

Idaho Strategic Resources Trading Up 9.5%

The company has a fifty day simple moving average of $29.08 and a two-hundred day simple moving average of $20.04. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $696.99 million, a P/E ratio of 73.98 and a beta of 0.74.

Insider Transactions at Idaho Strategic Resources

In other Idaho Strategic Resources news, Director Kevin G. Shiell sold 6,500 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was 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 represents a 11.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert John Morgan sold 7,143 shares of Idaho Strategic Resources 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,942 shares of company stock valued at $4,308,824 over the last three months. 8.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Idaho Strategic Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jefferies Financial Group Inc. grew its stake in Idaho Strategic Resources by 5.7% in 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 in the last quarter. Citizens Financial Group Inc. RI bought a new position in Idaho Strategic Resources in the first quarter valued at approximately $165,000. National Bank of Canada FI bought a new position in Idaho Strategic Resources in the first quarter valued at approximately $258,000. American Century Companies Inc. grew its stake in Idaho Strategic Resources by 25.1% in the first quarter. American Century Companies Inc. now owns 20,692 shares of the company's stock valued at $296,000 after purchasing an additional 4,149 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in Idaho Strategic Resources by 41.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 46,200 shares of the company's stock valued at $661,000 after purchasing an additional 13,600 shares in the last quarter. 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.

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