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Strength Seen in Idaho Strategic Resources, Inc. (IDR): Can Its 7.4% Jump Turn into More Strength?
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Idaho Strategic Resources, Inc. (IDR - Free Report) shares ended the last trading session 7.4% higher at $5.22. 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 7.4% loss over the past four weeks.
Idaho Strategic Resources shares jumped as it announced the extension of high-grade mineralization at its Mineral Hill rare earth elements (“REE”) project. Over the course of the 2023 rare earth elements geology field season, Idaho Strategic achieved several milestones, which have laid the foundation for continued success. The results of a sample taken from the project returned a grade of 23.5% total rare earth elements (“TREE”). IDR geologists have thus far traced the mineralization for more than 0.5 miles of strike length, utilizing the company’s X-Ray Fluorescence (“XRF”) machine to confirm the continuity and possibly build upon this already impressive REE grade and composition.
The company also announced that it has begun the first trenching program at its expansive Lemhi Pass Project with the goal of better understanding its structural geology and undertaking the sampling of prospective and known areas of REE mineralization. The Diamond Creek Project continues to advance its USFS permit for a core drilling program in the Simer and Frank Burch prospects targeted for the summer of 2024.
This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +106.3%. Revenues are expected to be $3.5 million, up 100% 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. is part of the Zacks Mining - Gold industry. TRX Gold (TRX - Free Report) , another stock in the same industry, closed the last trading session 2.5% higher at $0.41. TRX has returned 3.3% in the past month.
For TRX Gold, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.01. This represents a change of +150% from what the company reported a year ago. TRX Gold currently has a Zacks Rank of #5 (Strong Sell).
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Strength Seen in Idaho Strategic Resources, Inc. (IDR): Can Its 7.4% Jump Turn into More Strength?
Idaho Strategic Resources, Inc. (IDR - Free Report) shares ended the last trading session 7.4% higher at $5.22. 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 7.4% loss over the past four weeks.
Idaho Strategic Resources shares jumped as it announced the extension of high-grade mineralization at its Mineral Hill rare earth elements (“REE”) project. Over the course of the 2023 rare earth elements geology field season, Idaho Strategic achieved several milestones, which have laid the foundation for continued success. The results of a sample taken from the project returned a grade of 23.5% total rare earth elements (“TREE”). IDR geologists have thus far traced the mineralization for more than 0.5 miles of strike length, utilizing the company’s X-Ray Fluorescence (“XRF”) machine to confirm the continuity and possibly build upon this already impressive REE grade and composition.
The company also announced that it has begun the first trenching program at its expansive Lemhi Pass Project with the goal of better understanding its structural geology and undertaking the sampling of prospective and known areas of REE mineralization. The Diamond Creek Project continues to advance its USFS permit for a core drilling program in the Simer and Frank Burch prospects targeted for the summer of 2024.
This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +106.3%. Revenues are expected to be $3.5 million, up 100% 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. is part of the Zacks Mining - Gold industry. TRX Gold (TRX - Free Report) , another stock in the same industry, closed the last trading session 2.5% higher at $0.41. TRX has returned 3.3% in the past month.
For TRX Gold, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.01. This represents a change of +150% from what the company reported a year ago. TRX Gold currently has a Zacks Rank of #5 (Strong Sell).