Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Gap Up – Should You Buy?

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR) shares gapped up before the market opened on Monday . The stock had previously closed at $36.39, but opened at $41.50. Idaho Strategic Resources shares last traded at $42.5290, with a volume of 113,805 shares.

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 issued a Buy rating to the company’s stock. According to data from MarketBeat, Idaho Strategic Resources currently has a consensus rating of “Strong Buy”.

Idaho Strategic Resources Stock Performance

The firm has a market capitalization of $643.10 million, a P/E ratio of 28.75 and a beta of 1.16. The stock has a fifty day simple moving average of $39.63 and a two-hundred day simple moving average of $39.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.77 and a quick ratio of 12.48.

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

Institutional Investors Weigh In On Idaho Strategic Resources

A number of hedge funds have recently added to or reduced their stakes in IDR. NewEdge Advisors LLC increased its holdings in Idaho Strategic Resources by 108.8% in the first quarter. NewEdge Advisors LLC now owns 30,551 shares of the company’s stock worth $437,000 after purchasing an additional 15,917 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Idaho Strategic Resources by 21.7% in the first quarter. Goldman Sachs Group Inc. now owns 52,099 shares of the company’s stock worth $746,000 after purchasing an additional 9,298 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 worth $3,736,000 after purchasing an additional 159,850 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in Idaho Strategic Resources in the second quarter worth approximately $78,000. Finally, New York State Common Retirement Fund bought a new stake in Idaho Strategic Resources in the second quarter worth approximately $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.