Idaho Strategic Resources (NYSEAMERICAN:IDR) Shares Down 9.5% Following Weak Earnings

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR) traded down 9.5% on Thursday following a dissappointing earnings announcement. The company traded as low as $47.02 and last traded at $46.3320. 35,251 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 358,126 shares. The stock had previously closed at $51.21.

The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $14.48 million during the quarter, compared to analysts’ expectations of $14.30 million. Idaho Strategic Resources had a return on equity of 26.89% and a net margin of 43.33%.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Idaho Strategic Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Hedge Funds Weigh In On Idaho Strategic Resources

Several institutional investors have recently bought and sold shares of IDR. Euro Pacific Asset Management LLC purchased a new position in Idaho Strategic Resources during the fourth quarter valued at $32,782,035,000. State Street Corp grew its stake in Idaho Strategic Resources by 243.1% during the fourth quarter. State Street Corp now owns 890,401 shares of the company’s stock valued at $35,883,000 after acquiring an additional 630,891 shares in the last quarter. Van ECK Associates Corp purchased a new position in Idaho Strategic Resources during the third quarter valued at $15,711,000. Pertento Partners LLP bought a new position in Idaho Strategic Resources during the fourth quarter valued at $8,575,000. Finally, Brevan Howard Capital Management LP bought a new position in Idaho Strategic Resources during the third quarter valued at $5,616,000. 8.70% of the stock is owned by hedge funds and other institutional investors.

Idaho Strategic Resources Stock Down 14.4%

The company has a debt-to-equity ratio of 0.01, a current ratio of 13.96 and a quick ratio of 13.70. The company’s 50-day simple moving average is $38.26 and its 200 day simple moving average is $39.11. The firm has a market cap of $603.78 million, a P/E ratio of 26.89 and a beta of 1.21.

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.