Idaho Strategic Resources (NYSEAMERICAN:IDR) Trading Down 12.5% - Time to Sell?

Key Points

• Idaho Strategic Resources (NYSEAMERICAN:IDR) saw a significant 12.5% drop in its stock price, closing at $35.18 after trading as low as $34.92, with a notable 40% decline in share volume compared to its average.
• Despite the recent decline, Roth Capital reaffirmed a "buy" rating for the stock, with a consensus target price of $17.50 as per analyst estimates.
• Insider trading activity includes sales by CEO John Swallow and VP Robert John Morgan, with total insider sales amounting to $4.2 million over the past three months.

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR - Get Free Report)'s stock price dropped 12.5% during trading on Tuesday . The stock traded as low as $34.92 and last traded at $35.18. Approximately 238,290 shares were traded during trading, a decline of 40% from the average daily volume of 396,062 shares. The stock had previously closed at $40.19.

Analyst Upgrades and Downgrades

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

Idaho Strategic Resources Trading Down 9.9%

The company has a debt-to-equity ratio of 0.04, a current ratio of 5.11 and a quick ratio of 4.78. The stock has a market capitalization of $564.83 million, a PE ratio of 55.80 and a beta of 0.74. The stock's 50 day simple moving average is $31.94 and its two-hundred day simple moving average is $21.33.

Insider Buying and Selling at Idaho Strategic Resources

In other Idaho Strategic Resources news, VP Robert John Morgan sold 7,143 shares of the business's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $30.52, for a total value of $218,004.36. Following the transaction, the vice president directly owned 33,796 shares in the company, valued at $1,031,453.92. The trade was a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Swallow sold 87,470 shares of the business'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 owned 695,778 shares in the company, valued at approximately $21,089,031.18. The trade was 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 151,113 shares of company stock worth $4,207,415 over the last three months. 8.69% of the stock is currently owned by insiders.

Institutional Trading of Idaho Strategic Resources

A number of institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. lifted its stake in shares of Idaho Strategic Resources by 1.3% during the 2nd quarter. Raymond James Financial Inc. now owns 47,223 shares of the company's stock valued at $618,000 after buying an additional 608 shares in the last quarter. Jefferies Financial Group Inc. lifted its stake in shares of Idaho Strategic Resources by 5.7% during the 1st quarter. Jefferies Financial Group Inc. now owns 19,347 shares of the company's stock valued at $277,000 after buying an additional 1,047 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of Idaho Strategic Resources by 21.7% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 14,000 shares of the company's stock valued at $183,000 after buying an additional 2,500 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Idaho Strategic Resources by 42.8% during the 2nd quarter. Osaic Holdings Inc. now owns 8,604 shares of the company's stock worth $113,000 after acquiring an additional 2,579 shares during the period. Finally, Salem Investment Counselors Inc. increased its holdings in Idaho Strategic Resources by 6.5% during the 3rd quarter. Salem Investment Counselors Inc. now owns 47,455 shares of the company's stock worth $1,604,000 after acquiring an additional 2,900 shares during the period. 8.70% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.