Idaho Strategic Resources (NYSEAMERICAN:IDR) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Idaho Strategic Resources stock recently crossed above its 200-day moving average, with a current price of €17.23 ($20.03), indicating potential momentum in the market.
• Insiders have sold a total of 125,339 shares in the last ninety days, reflecting a significant decrease in their ownership stakes, which raises questions about their confidence in the stock.
• Several institutional investors have increased their holdings in the company, with AlphaQuest LLC raising its stake by an impressive 6,301.6% in the second quarter.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of €13.86 ($16.12) and traded as high as €17.36 ($20.19). Idaho Strategic Resources shares last traded at €17.23 ($20.03), with a volume of 415,100 shares trading hands.

Idaho Strategic Resources Price Performance

The stock has a 50-day moving average price of €15.48 and a 200 day moving average price of €13.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.37 and a quick ratio of 3.96. The firm has a market cap of $272.48 million, a price-to-earnings ratio of 31.26 and a beta of 0.71.

Insider Buying and Selling

In related news, insider Monique D. Hayes sold 12,724 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of €15.36 ($17.86), for a total transaction of €195,440.64 ($227,256.56). Following the transaction, the insider owned 8,742 shares of the company's stock, valued at €134,277.12 ($156,136.19). This trade represents a 59.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO John Swallow sold 100,000 shares of Idaho Strategic Resources stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of €15.27 ($17.76), for a total value of €1,527,000.00 ($1,775,581.40). Following the completion of the sale, the chief executive officer directly owned 830,248 shares in the company, valued at €12,677,886.96 ($14,741,729.02). This represents a 10.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,339 shares of company stock valued at $1,924,664 over the last quarter. 8.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Idaho Strategic Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaQuest LLC lifted its stake in Idaho Strategic Resources by 6,301.6% in the 2nd quarter. AlphaQuest LLC now owns 3,969 shares of the company's stock valued at $52,000 after buying an additional 3,907 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in Idaho Strategic Resources in the 1st quarter valued at $165,000. Schonfeld Strategic Advisors LLC acquired a new position in Idaho Strategic Resources in the 4th quarter valued at $131,000. NewEdge Advisors LLC raised its holdings in Idaho Strategic Resources by 1,435.6% in the 4th quarter. NewEdge Advisors LLC now owns 14,634 shares of the company's stock valued at $149,000 after acquiring an additional 13,681 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Idaho Strategic Resources in the 4th quarter valued at $150,000. 8.70% of the stock is currently owned by institutional investors and hedge funds.

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.