Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Gap Down Following Weak Earnings

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR)’s stock price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $34.72, but opened at $30.10. Idaho Strategic Resources shares last traded at $31.6510, with a volume of 150,134 shares changing hands.

The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The company had revenue of $10.73 million during the quarter, compared to analyst estimates of $12.50 million. Idaho Strategic Resources had a net margin of 43.33% and a return on equity of 23.94%.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Idaho Strategic Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Idaho Strategic Resources

Institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake in Idaho Strategic Resources by 100.0% during the 1st quarter. International Assets Investment Management LLC now owns 1,000 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Idaho Strategic Resources in the 4th quarter valued at about $38,000. Rockefeller Capital Management L.P. purchased a new stake in Idaho Strategic Resources during the fourth quarter worth about $40,000. Global Assets Advisory LLC purchased a new stake in Idaho Strategic Resources during the first quarter worth about $45,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Idaho Strategic Resources during the third quarter worth about $47,000. Hedge funds and other institutional investors own 8.70% of the company’s stock.

Idaho Strategic Resources Price Performance

The firm has a market cap of $493.59 million, a price-to-earnings ratio of 21.99 and a beta of 1.23. 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 company’s 50-day moving average price is $32.15 and its 200-day moving average price is $36.28.

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.