Idaho Strategic Resources (NYSEAMERICAN:IDR) Stock Price Up 7.3% - Still a Buy?

Key Points

• Idaho Strategic Resources stock rose by 7.3% recently, closing at $52.38, with a trading volume significantly higher than its average.
• Analysts have labelled the company with a "buy" rating and set an average price target of $17.50, indicating a positive outlook.
• Insider sales have been active, with high-profile transactions by the CEO and a director, reflecting a notable decrease in their ownership stakes.

Shares of Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report) shot up 7.3% on Tuesday . The company traded as high as $51.38 and last traded at $52.38. 486,675 shares were traded during mid-day trading, an increase of 28% from the average session volume of 379,319 shares. The stock had previously closed at $48.81.

Analysts Set New Price Targets

Separately, Roth Capital restated 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, According to data from MarketBeat.com, Idaho Strategic Resources currently has an average rating of "Buy" and an average price target of $17.50.

Idaho Strategic Resources Price Performance

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 company has a 50 day moving average price of $29.69 and a 200 day moving average price of $20.28. The company has a market capitalization of $783.08 million, a P/E ratio of 83.05 and a beta of 0.74.

Insider Transactions at Idaho Strategic Resources

In other news, Director Kevin G. Shiell sold 6,500 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $25.03, for a total transaction of $162,695.00. Following the completion of the sale, the director directly owned 49,016 shares in the company, valued at approximately $1,226,870.48. This represents a 11.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Swallow sold 87,470 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $30.31, for a total transaction of $2,651,215.70. Following the completion of the transaction, the chief executive officer directly owned 695,778 shares in the company, valued at approximately $21,089,031.18. This represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,942 shares of company stock valued at $4,308,824. Company insiders own 8.69% of the company's stock.

Hedge Funds Weigh In On Idaho Strategic Resources

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in Idaho Strategic Resources by 127.1% in the 2nd quarter. Geode Capital Management LLC now owns 285,573 shares of the company's stock worth $3,736,000 after purchasing an additional 159,850 shares in the last quarter. Evernest Financial Advisors LLC acquired a new position in Idaho Strategic Resources in the 2nd quarter worth about $396,000. Stonebridge Wealth Management LLC acquired a new position in Idaho Strategic Resources in the 2nd quarter worth about $328,000. Man Group plc bought a new stake in shares of Idaho Strategic Resources in the 2nd quarter valued at about $319,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Idaho Strategic Resources in the 2nd quarter valued at about $288,000. Institutional investors and hedge funds own 8.70% of the company's stock.

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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