Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Gap Down – Here’s Why

Shares of Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR) gapped down prior to trading on Friday . The stock had previously closed at $44.05, but opened at $40.38. Idaho Strategic Resources shares last traded at $39.88, with a volume of 249,861 shares traded.

Wall Street Analysts Forecast Growth

Separately, Roth Capital reiterated a “buy” rating on shares of Idaho Strategic Resources in a research report on Monday, September 8th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Idaho Strategic Resources has an average rating of “Buy” and a consensus price target of $17.50.

Idaho Strategic Resources Stock Down 10.7%

The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $570.82 million, a P/E ratio of 60.52 and a beta of 0.74. The company has a 50-day moving average of $31.63 and a two-hundred day moving average of $21.11.

Insider Activity at Idaho Strategic Resources

In related 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 directly owned 33,796 shares in the company, valued at $1,031,453.92. The trade was a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Swallow sold 87,470 shares of Idaho Strategic Resources 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 $21,089,031.18. This represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 151,113 shares of company stock worth $4,207,415 over the last ninety days. 8.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IDR. Police & Firemen s Retirement System of New Jersey purchased a new position in Idaho Strategic Resources during the second quarter valued at $39,000. AlphaQuest LLC boosted its position in shares of Idaho Strategic Resources by 6,301.6% during the second quarter. AlphaQuest LLC now owns 3,969 shares of the company’s stock valued at $52,000 after buying an additional 3,907 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Idaho Strategic Resources in the 2nd quarter worth about $78,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Idaho Strategic Resources in the 2nd quarter worth about $90,000. Finally, New York State Common Retirement Fund bought a new stake in Idaho Strategic Resources in the 2nd quarter worth about $98,000. Hedge funds and other institutional investors own 8.70% of the company’s stock.

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.