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Idaho Strategic Resources, Inc. (IDR) Moves 8.4% Higher: Will This Strength Last?
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Idaho Strategic Resources, Inc. (IDR - Free Report) shares ended the last trading session 8.4% higher at $5.54. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.4% gain over the past four weeks.
Idaho Strategic’s shares have surged after the company announced that an exploration crosscut at the Golden Chest Mine intercepted the H-Vein. As a result, a strongly mineralized vein was cut, with assays of 32.1 gpt gold over 0.43 meters on the northern rib and 54.1 gpt gold over 0.72 meters on the southern rib. The company had previously identified this vein zone while drilling for targets along the Idaho Vein.
The drifting results are impressive on the H-vein because of the high gold grades observed, and the attitude of the vein which may enable for a more efficient technique.
This company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $3.1 million, up 52% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Idaho Strategic Resources, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IDR going forward to see if this recent jump can turn into more strength down the road.
Idaho Strategic Resources, Inc. belongs to the Zacks Mining - Gold industry. Another stock from the same industry, Barrick Gold (GOLD - Free Report) , closed the last trading session 0.3% higher at $19.42. Over the past month, GOLD has returned 6.2%.
For Barrick Gold, the consensus EPS estimate for the upcoming report has changed -3.7% over the past month to $0.14. This represents a change of -46.2% from what the company reported a year ago. Barrick Gold currently has a Zacks Rank of #3 (Hold).
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Idaho Strategic Resources, Inc. (IDR) Moves 8.4% Higher: Will This Strength Last?
Idaho Strategic Resources, Inc. (IDR - Free Report) shares ended the last trading session 8.4% higher at $5.54. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.4% gain over the past four weeks.
Idaho Strategic’s shares have surged after the company announced that an exploration crosscut at the Golden Chest Mine intercepted the H-Vein. As a result, a strongly mineralized vein was cut, with assays of 32.1 gpt gold over 0.43 meters on the northern rib and 54.1 gpt gold over 0.72 meters on the southern rib. The company had previously identified this vein zone while drilling for targets along the Idaho Vein.
The drifting results are impressive on the H-vein because of the high gold grades observed, and the attitude of the vein which may enable for a more efficient technique.
This company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $3.1 million, up 52% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Idaho Strategic Resources, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IDR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Idaho Strategic Resources, Inc. belongs to the Zacks Mining - Gold industry. Another stock from the same industry, Barrick Gold (GOLD - Free Report) , closed the last trading session 0.3% higher at $19.42. Over the past month, GOLD has returned 6.2%.
For Barrick Gold, the consensus EPS estimate for the upcoming report has changed -3.7% over the past month to $0.14. This represents a change of -46.2% from what the company reported a year ago. Barrick Gold currently has a Zacks Rank of #3 (Hold).