Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Up 9.7% - Here's What Happened

Key Points

• Shares jumped 9.7% to $43.53 on Friday (intraday high $43.54) while volume was ~183,200 shares, down about 54% from the average daily volume.
• Zacks Research upgraded Idaho Strategic Resources from "hold" to Strong Buy, and MarketBeat shows the stock's consensus rating as "Strong Buy" (one Strong Buy, one Buy).
• The company has a market capitalization of about $684.9M and a PE of 38.0, with very high liquidity (quick ratio 13.70, current ratio 13.96) and minimal leverage (debt-to-equity 0.01); it explores and produces gold, silver and rare earth projects in Idaho.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report) shares rose 9.7% on Friday . The stock traded as high as $43.54 and last traded at $43.5290. Approximately 183,200 shares changed hands during trading, a decline of 54% from the average daily volume of 397,594 shares. The stock had previously closed at $39.68.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Idaho Strategic Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, the company has an average rating of "Strong Buy".

Idaho Strategic Resources Price Performance

The stock has a market capitalization of $684.89 million, a PE ratio of 38.00 and a beta of 1.05. The firm's fifty day moving average price is $36.23 and its two-hundred day moving average price is $38.40. The company has a quick ratio of 13.70, a current ratio of 13.96 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Idaho Strategic Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Idaho Strategic Resources in the fourth quarter worth $38,000. Rockefeller Capital Management L.P. bought a new position in Idaho Strategic Resources in the fourth quarter valued at about $40,000. Sound Income Strategies LLC lifted its holdings in Idaho Strategic Resources by 4,000.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,025 shares of the company's stock valued at $45,000 after acquiring an additional 1,000 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in Idaho Strategic Resources in the third quarter worth about $47,000. Finally, Russell Investments Group Ltd. purchased a new position in Idaho Strategic Resources in the third quarter worth about $48,000. 8.70% of the stock is owned by 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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