Zacks Research Downgrades Idaho Strategic Resources (NYSEAMERICAN:IDR) to Strong Sell

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

Idaho Strategic Resources Trading Up 5.0%

Idaho Strategic Resources stock opened at $32.67 on Thursday. The company has a 50 day moving average price of $31.82 and a 200 day moving average price of $35.86. Idaho Strategic Resources has a 52 week low of $24.12 and a 52 week high of $54.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.66 and a current ratio of 12.17. The firm has a market capitalization of $517.17 million, a price-to-earnings ratio of 22.53 and a beta of 1.23.

Idaho Strategic Resources (NYSEAMERICAN:IDR) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $10.73 million for the quarter, compared to analysts’ expectations of $12.50 million. Idaho Strategic Resources had a return on equity of 20.81% and a net margin of 44.00%. Research analysts forecast that Idaho Strategic Resources will post 1.37 EPS for the current year.

Hedge Funds Weigh In On Idaho Strategic Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC increased its holdings in shares of Idaho Strategic Resources by 108.8% in the 1st quarter. NewEdge Advisors LLC now owns 30,551 shares of the company’s stock valued at $437,000 after purchasing an additional 15,917 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Idaho Strategic Resources by 21.7% during 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 during the period. Geode Capital Management LLC grew its position in Idaho Strategic Resources by 127.1% during the second quarter. Geode Capital Management LLC now owns 285,573 shares of the company’s stock valued at $3,736,000 after purchasing an additional 159,850 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Idaho Strategic Resources in the 2nd quarter valued at approximately $78,000. Finally, New York State Common Retirement Fund acquired a new position in Idaho Strategic Resources in the 2nd quarter valued at approximately $98,000. Hedge funds and other institutional investors own 8.70% of the company’s stock.

Idaho Strategic Resources Company Profile

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.