Idaho Strategic Resources (NYSEAMERICAN:IDR) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Idaho Strategic Resources' stock surpassed its 200-day moving average of $18.77, reaching a high of $34.37, indicating potential upward momentum in its trading performance.
• Analysts have a consensus rating of "Buy" for the stock, with an average price target of $17.50, suggesting optimism about its future performance.
• Recent insider trading activity includes the CEO selling over 87,000 shares at an average price of $30.31, which may indicate changes in management confidence regarding the company's outlook.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.77 and traded as high as $34.37. Idaho Strategic Resources shares last traded at $34.23, with a volume of 316,285 shares changing hands.

Analyst Ratings Changes

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

Idaho Strategic Resources Stock Up 1.3%

The firm has a market capitalization of $496.68 million, a P/E ratio of 52.66 and a beta of 0.74. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.78 and a current ratio of 5.11. The business's fifty day moving average price is $26.09 and its two-hundred day moving average price is $18.77.

Insider Activity

In related news, insider Monique D. Hayes sold 4,829 shares of Idaho Strategic Resources stock in a transaction that occurred 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 completion of the sale, the insider directly owned 3,913 shares in the company, valued at $82,173. This trade represents a 55.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Swallow sold 87,470 shares of Idaho Strategic Resources stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 695,778 shares of the company's stock, valued at $21,089,031.18. This trade represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 268,666 shares of company stock valued at $6,031,265 over the last 90 days. 8.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Idaho Strategic Resources

A number of institutional investors have recently bought and sold shares of IDR. Geode Capital Management LLC raised its position in Idaho Strategic Resources by 127.1% during the 2nd quarter. Geode Capital Management LLC now owns 285,573 shares of the company's stock worth $3,736,000 after buying an additional 159,850 shares during the last quarter. Millennium Management LLC raised its position in Idaho Strategic Resources by 169.6% during the 4th quarter. Millennium Management LLC now owns 120,768 shares of the company's stock worth $1,231,000 after buying an additional 75,969 shares during the last quarter. Evernest Financial Advisors LLC purchased a new position in Idaho Strategic Resources during the 2nd quarter worth approximately $396,000. Squarepoint Ops LLC purchased a new position in Idaho Strategic Resources during the 4th quarter worth approximately $270,000. Finally, Stonebridge Wealth Management LLC purchased a new position in Idaho Strategic Resources during the 2nd quarter worth approximately $328,000. 8.70% of the stock is owned by hedge funds and other institutional investors.

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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