Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR) Short Interest Up 7.6% in October

Idaho Strategic Resources, Inc. (NYSEAMERICAN:IDR) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 537,800 shares, an increase of 7.6% from the October 15th total of 499,900 shares. Currently, 4.6% of the company’s stock are short sold. Based on an average trading volume of 252,400 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm upped their price objective on Idaho Strategic Resources from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, August 26th.

Idaho Strategic Resources Stock Up 5.0 %

NYSEAMERICAN IDR opened at €11.53 ($12.27) on Tuesday. Idaho Strategic Resources has a 1-year low of €5.18 ($5.51) and a 1-year high of €18.35 ($19.52). The company has a market capitalization of $157.50 million, a P/E ratio of 21.53 and a beta of 0.81. The company has a quick ratio of 5.15, a current ratio of 5.52 and a debt-to-equity ratio of 0.06.

Idaho Strategic Resources (NYSEAMERICAN:IDR) last released its quarterly earnings data on Monday, November 4th. The company reported €0.15 ($0.16) earnings per share for the quarter, missing the consensus estimate of €0.21 ($0.22) by (€0.06) (($0.06)). The firm had revenue of €6.15 million during the quarter, compared to analysts’ expectations of €7.40 million. Idaho Strategic Resources had a net margin of 30.44% and a return on equity of 24.55%. On average, analysts predict that Idaho Strategic Resources will post 0.71 EPS for the current year.

Insider Transactions at Idaho Strategic Resources

In related news, CEO John Swallow sold 225,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of €13.04 ($13.87), for a total value of €2,934,000.00 ($3,121,276.60). Following the completion of the sale, the chief executive officer now directly owns 955,248 shares of the company’s stock, valued at €12,456,433.92 ($13,251,525.45). This represents a 19.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Monique D. Hayes sold 7,746 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of €11.51 ($12.24), for a total value of €89,156.46 ($94,847.30). Following the completion of the sale, the insider now directly owns 27,670 shares of the company’s stock, valued at approximately €318,481.70 ($338,810.32). This trade represents a 21.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.66% of the company’s stock.

Institutional Investors Weigh In On Idaho Strategic Resources

A number of large investors have recently bought and sold shares of IDR. Geode Capital Management LLC boosted its holdings in shares of Idaho Strategic Resources by 9.5% during the third quarter. Geode Capital Management LLC now owns 115,301 shares of the company’s stock worth $1,854,000 after purchasing an additional 9,991 shares during the last quarter. Barclays PLC boosted its holdings in shares of Idaho Strategic Resources by 10,713.2% during the third quarter. Barclays PLC now owns 9,840 shares of the company’s stock worth $158,000 after purchasing an additional 9,749 shares during the last quarter. State Street Corp boosted its holdings in shares of Idaho Strategic Resources by 245.5% during the third quarter. State Street Corp now owns 38,700 shares of the company’s stock worth $622,000 after purchasing an additional 27,500 shares during the last quarter. Centiva Capital LP acquired a new stake in shares of Idaho Strategic Resources during the third quarter worth $237,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Idaho Strategic Resources during the third quarter worth $90,000. Institutional investors and hedge funds 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.