Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Up 9.2% - Still a Buy?

Key Points

• Idaho Strategic Resources shares surged 9.2% on Monday, closing at $38.24 after previously trading at a low of $35.03, although trading volume was down 62% compared to average levels.
• Roth Capital has reiterated a "buy" rating for the company, while the consensus rating remains "Buy" with an average target price of $17.50.
• Insider selling activity has been notable, with insiders selling a total of 268,666 shares valued at over $6 million in the past 90 days, indicating a 55.24% decrease in one insider's position.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report) shot up 9.2% on Monday . The company traded as high as $38.96 and last traded at $38.24. 134,016 shares were traded during mid-day trading, a decline of 62% from the average session volume of 354,548 shares. The stock had previously closed at $35.03.

Analysts Set New Price Targets

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

Idaho Strategic Resources Trading Up 15.2%

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 $585.62 million, a P/E ratio of 62.09 and a beta of 0.74. The stock's 50 day moving average price is $26.69 and its 200-day moving average price is $19.08.

Insider Activity at Idaho Strategic Resources

In other news, insider Monique D. Hayes sold 4,829 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $21.00, for a total value of $101,409.00. Following the sale, the insider directly owned 3,913 shares of the company's stock, valued at $82,173. This represents a 55.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin G. Shiell sold 6,500 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $25.03, for a total value of $162,695.00. Following the completion of the sale, the director owned 49,016 shares in the company, valued at $1,226,870.48. The trade was a 11.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 268,666 shares of company stock valued at $6,031,265 over the last 90 days. Company insiders own 8.69% of the company's stock.

Institutional Trading of Idaho Strategic Resources

Several institutional investors have recently modified their holdings of IDR. Osaic Holdings Inc. increased its stake in Idaho Strategic Resources by 42.8% during 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. Stonebridge Wealth Management LLC purchased a new stake in shares of Idaho Strategic Resources during the second quarter worth approximately $328,000. State of Tennessee Department of Treasury acquired a new position in Idaho Strategic Resources in the 2nd quarter valued at $169,000. Man Group plc purchased a new position in Idaho Strategic Resources in the 2nd quarter valued at $319,000. Finally, Raymond James Financial Inc. lifted its holdings 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 purchasing an additional 608 shares in the last quarter. Institutional investors and hedge funds 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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