Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Gap Up - What's Next?

Key Points

• Idaho Strategic Resources' stock opened significantly higher at $42.00, compared to a previous closing price of $39.34, with 176,416 shares traded.
• The current consensus rating for Idaho Strategic Resources is a Buy, with a target price set at $17.50.
• Insider trading shows notable activity, with CEO John Swallow and Director Kevin G. Shiell selling substantial shares, resulting in a decrease in their ownership stakes by 11.17% and 11.71%, respectively.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $39.34, but opened at $42.00. Idaho Strategic Resources shares last traded at $39.84, with a volume of 176,416 shares changing hands.

Analyst Ratings Changes

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, Based on data from MarketBeat.com, Idaho Strategic Resources currently has a consensus rating of "Buy" and a consensus target price of $17.50.

Idaho Strategic Resources Stock Up 0.8%

The stock has a market cap of $618.00 million, a PE ratio of 61.16 and a beta of 0.74. The business has a 50 day moving average price of $31.63 and a 200 day moving average price of $21.16. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.04.

Insider Buying and Selling

In related news, Director Kevin G. Shiell sold 6,500 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $25.03, for a total transaction of $162,695.00. Following the sale, the director owned 49,016 shares in the company, valued at approximately $1,226,870.48. This trade represents a 11.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Swallow sold 87,470 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $30.31, for a total transaction of $2,651,215.70. Following the sale, the chief executive officer directly owned 695,778 shares in the company, valued at approximately $21,089,031.18. The trade was a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,113 shares of company stock valued at $4,207,415. Corporate insiders own 8.69% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Idaho Strategic Resources in the second quarter valued at about $39,000. AlphaQuest LLC raised its position in Idaho Strategic Resources by 6,301.6% in the second quarter. AlphaQuest LLC now owns 3,969 shares of the company's stock valued at $52,000 after purchasing an additional 3,907 shares during the period. JPMorgan Chase & Co. acquired a new position in Idaho Strategic Resources during the 2nd quarter worth about $78,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Idaho Strategic Resources in the second quarter valued at approximately $90,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Idaho Strategic Resources in the second quarter worth $98,000. Hedge funds and other 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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