John Swallow, President and CEO of Idaho Strategic Resources, Inc. (NYSE:IDR), recently sold 225,000 shares of the company's common stock. The shares were sold at a price of $13.04 each, amounting to a total transaction value of approximately $2.93 million. Following this sale, Swallow holds 955,248 shares directly. According to a footnote, the shares sold were part of a larger batch that Swallow had originally purchased in August 2013.
In other recent news, Idaho Strategic Resources inked a potential $15 million stock sales deal with Roth Capital Partners (WA:CPAP). This agreement allows Idaho Strategic Resources to offer and sell its common stock intermittently on the NYSE American market. However, the company is not compelled to sell any shares under this agreement. The deal is part of a shelf registration statement on Form S-3, supplemented by a prospectus.
In a separate development, the company's stock price target was upgraded to $14.00 from the previous $10.00, while the Buy rating was maintained. This change was attributed to the company's transition to underground mining at the Golden Chest mine, one of the highest-grade gold mines in the U.S. According to an analyst from Roth/MKM, the company's high recoveries have resulted in low costs and favorable margins, generating substantial cash flow and enabling the company to optimize its operations further.
These are recent developments that have been shaping Idaho Strategic Resources' operations and financial position. The company's strategic approach to mining and resource management has positioned it favorably in the market.
InvestingPro Insights
The recent insider sale by John Swallow comes at a time when Idaho Strategic Resources, Inc. (NYSE:IDR) is experiencing significant growth and market attention. According to InvestingPro data, IDR's revenue growth has been impressive, with a 64.93% increase over the last twelve months as of Q3 2024, and an even more striking 86.39% quarterly growth in Q3 2024. This robust growth is reflected in the company's stock performance, which has seen a 154.31% price return over the past year.
Despite the recent insider sale, IDR's financials appear strong. The company boasts a healthy gross profit margin of 54.59% and an operating income margin of 27.15% for the last twelve months. Additionally, IDR's EBITDA growth stands at an impressive 197.67% over the same period, indicating substantial improvement in the company's operational efficiency.
InvestingPro Tips highlight that IDR operates with a moderate level of debt and its liquid assets exceed short-term obligations, suggesting a solid financial foundation. However, investors should note that the stock has taken a hit over the last week and month, with price total returns of -18.58% and -18.94% respectively. This recent dip could be related to the insider sale or broader market conditions.
For those interested in a deeper analysis, InvestingPro offers 14 additional tips for IDR, providing a comprehensive view of the company's financial health and market position.
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