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Idaho Strategic Resources (IDR) Surges 6.8%: Is This an Indication of Further Gains?
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Idaho Strategic Resources, Inc. (IDR - Free Report) shares rallied 6.8% in the last trading session to close at $14.84. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 27.2% gain over the past four weeks.
Shares of Idaho Strategic Resources gained on record gold prices, which was backed by increased geopolitical tensions, the potential for monetary policy easing and continuous purchasing by central banks. The yellow metal is currently around $2,633 per ounce, supported by increasing bets on U.S interest rate cuts.
The company's sales surged 89.3% year-over-year in the second quarter of 2024, owing to increased gold production and a higher average gold price. IDR expects gold production to remain around this level for the rest of the year.
This company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of +566.7%. Revenues are expected to be $7 million, up 112.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Idaho Strategic Resources, the consensus EPS estimate for the quarter has been revised 185.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 is a member of the Zacks Mining - Gold industry. One other stock in the same industry, Agnico Eagle Mines (AEM - Free Report) , finished the last trading session 0.6% lower at $82.61. AEM has returned 0.4% over the past month.
Agnico's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.90. Compared to the company's year-ago EPS, this represents a change of +104.6%. Agnico currently boasts a Zacks Rank of #3 (Hold).
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Idaho Strategic Resources (IDR) Surges 6.8%: Is This an Indication of Further Gains?
Idaho Strategic Resources, Inc. (IDR - Free Report) shares rallied 6.8% in the last trading session to close at $14.84. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 27.2% gain over the past four weeks.
Shares of Idaho Strategic Resources gained on record gold prices, which was backed by increased geopolitical tensions, the potential for monetary policy easing and continuous purchasing by central banks. The yellow metal is currently around $2,633 per ounce, supported by increasing bets on U.S interest rate cuts.
The company's sales surged 89.3% year-over-year in the second quarter of 2024, owing to increased gold production and a higher average gold price. IDR expects gold production to remain around this level for the rest of the year.
This company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of +566.7%. Revenues are expected to be $7 million, up 112.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Idaho Strategic Resources, the consensus EPS estimate for the quarter has been revised 185.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Idaho Strategic Resources is a member of the Zacks Mining - Gold industry. One other stock in the same industry, Agnico Eagle Mines (AEM - Free Report) , finished the last trading session 0.6% lower at $82.61. AEM has returned 0.4% over the past month.
Agnico's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.90. Compared to the company's year-ago EPS, this represents a change of +104.6%. Agnico currently boasts a Zacks Rank of #3 (Hold).