HITE Hedge Asset Management LLC Purchases New Stake in Idaho Strategic Resources, Inc. $IDR

HITE Hedge Asset Management LLC purchased a new stake in Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 91,930 shares of the company’s stock, valued at approximately $3,705,000. HITE Hedge Asset Management LLC owned approximately 0.59% of Idaho Strategic Resources as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IDR. Euro Pacific Asset Management LLC acquired a new position in Idaho Strategic Resources in the fourth quarter valued at about $32,782,035,000. Van ECK Associates Corp acquired a new position in Idaho Strategic Resources in the third quarter valued at about $15,711,000. Brevan Howard Capital Management LP acquired a new position in Idaho Strategic Resources in the third quarter valued at about $5,616,000. Geode Capital Management LLC raised its stake in Idaho Strategic Resources by 127.1% in the second quarter. Geode Capital Management LLC now owns 285,573 shares of the company’s stock valued at $3,736,000 after purchasing an additional 159,850 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in Idaho Strategic Resources in the third quarter valued at about $5,351,000. Institutional investors and hedge funds own 8.70% of the company’s stock.

Idaho Strategic Resources Stock Performance

Idaho Strategic Resources stock opened at $36.39 on Friday. Idaho Strategic Resources, Inc. has a 12-month low of $12.40 and a 12-month high of $54.70. The company has a quick ratio of 12.48, a current ratio of 12.77 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $39.63 and its two-hundred day moving average price is $39.62. The stock has a market cap of $575.33 million, a PE ratio of 25.63 and a beta of 1.16.

Idaho Strategic Resources (NYSEAMERICAN:IDR) last released its earnings results on Thursday, May 14th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Idaho Strategic Resources had a net margin of 43.33% and a return on equity of 23.94%. The business had revenue of $14.48 million during the quarter, compared to the consensus estimate of $14.30 million. As a group, analysts expect that Idaho Strategic Resources, Inc. will post 1.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Idaho Strategic Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, Idaho Strategic Resources has a consensus rating of “Strong Buy”.

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.