Idaho Strategic Resources (NYSEAMERICAN:IDR) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Idaho Strategic Resources (NYSEAMERICAN:IDR) issued its earnings results on Wednesday. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01, FiscalAI reports. The business had revenue of $11.08 million during the quarter, compared to analysts’ expectations of $9.40 million. Idaho Strategic Resources had a return on equity of 20.81% and a net margin of 29.13%.

Idaho Strategic Resources Stock Performance

NYSEAMERICAN:IDR traded up $1.56 during trading hours on Wednesday, hitting $33.56. 402,970 shares of the company traded hands, compared to its average volume of 411,223. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.04. Idaho Strategic Resources has a twelve month low of $9.67 and a twelve month high of $54.70. The firm has a 50-day moving average of $34.03 and a 200 day moving average of $23.20. The stock has a market capitalization of $523.20 million, a price-to-earnings ratio of 51.63 and a beta of 0.72.

Insider Transactions at Idaho Strategic Resources

In other news, VP Robert John Morgan sold 7,143 shares of Idaho Strategic Resources stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $30.52, for a total transaction of $218,004.36. Following the sale, the vice president owned 33,796 shares of the company’s stock, valued at approximately $1,031,453.92. This trade represents a 17.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Swallow sold 87,470 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $30.31, for a total value of $2,651,215.70. Following the sale, the chief executive officer 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 is available in the SEC filing. Over the last three months, insiders have sold 144,613 shares of company stock worth $4,044,720. 8.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Idaho Strategic Resources

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new position in shares of Idaho Strategic Resources in the second quarter valued at approximately $78,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Idaho Strategic Resources during the 2nd quarter worth approximately $90,000. New York State Common Retirement Fund acquired a new stake in Idaho Strategic Resources during the 2nd quarter valued at $98,000. Osaic Holdings Inc. raised its position in Idaho Strategic Resources by 42.8% in the 2nd quarter. Osaic Holdings Inc. now owns 8,604 shares of the company’s stock valued at $113,000 after purchasing an additional 2,579 shares during the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in Idaho Strategic Resources in the second quarter worth $169,000. Institutional investors and hedge funds own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Capital reaffirmed 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, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $17.50.

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.