Idaho Strategic Resources (NYSEAMERICAN:IDR) Raised to Hold at Zacks Research

Idaho Strategic Resources (NYSEAMERICAN:IDR) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Idaho Strategic Resources Trading Up 1.7%

Shares of IDR stock opened at $21.40 on Monday. Idaho Strategic Resources has a fifty-two week low of $20.05 and a fifty-two week high of $53.30. The company has a 50 day moving average price of $29.03 and a 200 day moving average price of $33.58. The stock has a market capitalization of $338.76 million, a P/E ratio of 14.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.66 and a current ratio of 12.17.

Idaho Strategic Resources (NYSEAMERICAN:IDR) last released its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The business had revenue of $10.73 million for the quarter, compared to analyst estimates of $12.50 million. Idaho Strategic Resources had a return on equity of 20.81% and a net margin of 44.00%. Equities research analysts predict that Idaho Strategic Resources will post 1.37 EPS for the current fiscal year.

Institutional Trading of Idaho Strategic Resources

Large investors have recently modified their holdings of the stock. Punch & Associates Investment Management Inc. raised its stake in shares of Idaho Strategic Resources by 0.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 207,220 shares of the company’s stock valued at $6,656,000 after acquiring an additional 855 shares in the last quarter. Navellier & Associates Inc. boosted its holdings in Idaho Strategic Resources by 42.7% in the second quarter. Navellier & Associates Inc. now owns 156,851 shares of the company’s stock valued at $5,137,000 after purchasing an additional 46,970 shares during the period. Bank of New York Mellon Corp purchased a new position in Idaho Strategic Resources in the second quarter valued at $2,653,000. Principal Financial Group Inc. grew its stake in Idaho Strategic Resources by 144.4% during the 1st quarter. Principal Financial Group Inc. now owns 53,445 shares of the company’s stock worth $1,717,000 after purchasing an additional 31,576 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in Idaho Strategic Resources by 542.5% during the 1st quarter. Quantinno Capital Management LP now owns 40,111 shares of the company’s stock worth $1,288,000 after purchasing an additional 33,868 shares in the last quarter. Hedge funds and other institutional investors own 8.70% of the company’s stock.

About Idaho Strategic Resources

Idaho Strategic Resources, Inc is a mineral exploration, development and production company focused on gold and other strategic minerals in Idaho. The company’s activities include acquiring, exploring and developing mineral properties, as well as operating assets capable of supporting gold production.

Its principal asset is the Golden Chest Gold Project in northern Idaho, which includes an underground mine and a processing mill near Murray. The company has worked to advance mining and processing operations at Golden Chest while continuing exploration intended to expand known mineral resources and identify additional mineralized areas.

Idaho Strategic Resources was formerly known as New Jersey Mining Company and adopted its current name in 2021 to reflect its focus on Idaho-based mineral assets and strategic resources.