Idaho Strategic Resources (NYSEAMERICAN:IDR) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Idaho Strategic Resources stock price surpassed its 200-day moving average during trading, reaching a height of $44.00 before closing at $41.35 with significant trading volume.
• Roth Capital has reaffirmed a "buy" rating on Idaho Strategic Resources, which has a consensus price target of $17.50, indicating favorable analyst sentiment.
• Recent insider sales include VP Robert John Morgan and CEO John Swallow, who sold substantial amounts of stock, reflecting a decrease in their ownership positions.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.79 and traded as high as $44.00. Idaho Strategic Resources shares last traded at $41.35, with a volume of 856,237 shares traded.

Analyst Upgrades and Downgrades

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

Idaho Strategic Resources Trading Down 2.3%

The company has a market capitalization of $599.99 million, a price-to-earnings ratio of 63.62 and a beta of 0.74. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.04. The business's 50 day moving average price is $28.55 and its two-hundred day moving average price is $19.79.

Insider Activity at Idaho Strategic Resources

In related news, VP Robert John Morgan sold 7,143 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $30.52, for a total transaction of $218,004.36. Following the sale, the vice president owned 33,796 shares of the company's stock, valued at $1,031,453.92. This trade represents a 17.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John Swallow sold 87,470 shares of the business's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $30.31, for a total value of $2,651,215.70. Following the sale, the chief executive officer owned 695,778 shares in the company, valued at $21,089,031.18. This represents a 11.17% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,942 shares of company stock worth $4,308,824. Corporate insiders own 8.69% of the company's stock.

Hedge Funds Weigh In On Idaho Strategic Resources

Several large investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Idaho Strategic Resources during the second quarter worth about $39,000. AlphaQuest LLC boosted its position in Idaho Strategic Resources by 6,301.6% during the 2nd quarter. AlphaQuest LLC now owns 3,969 shares of the company's stock worth $52,000 after buying an additional 3,907 shares during the period. JPMorgan Chase & Co. bought a new stake in Idaho Strategic Resources during the 2nd quarter worth approximately $78,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Idaho Strategic Resources in the 2nd quarter valued at approximately $90,000. Finally, New York State Common Retirement Fund bought a new position in shares of Idaho Strategic Resources during the second quarter valued at $98,000. 8.70% of the stock is currently owned by 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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