Idaho Strategic Resources VP sells shares worth over $72k By Investing.com

Idaho Strategic Resources, Inc. (OTC:IDR) Vice President Grant A. Brackebusch has sold a total of $72,849 worth of company stock, according to the latest SEC filings. The transactions occurred over three separate days, with shares sold at prices ranging from $9.50 to $9.67.

On May 23, Brackebusch sold 3,539 shares at $9.67 each. Following the sale, he sold an additional 1,033 shares at $9.50 per share on May 24, and then another 3,033 shares at the same price on May 28. After these transactions, the Vice President’s direct ownership in the company has been adjusted to 128,923 shares.

It should be noted that the share amounts reported have been adjusted to account for a 1-for-14 reverse stock split of Idaho Strategic Resources’ common stock that took place on December 6, 2021. This reverse split has been factored into the ownership figures disclosed in the SEC filing.

The sales by the Vice President have been publicly disclosed as per the regulatory requirements for company insiders. These transactions provide current shareholders and potential investors with insight into executive confidence and financial moves within the company.

Idaho Strategic Resources, Inc., headquartered in Coeur d’Alene, Idaho, operates in the gold and silver ores industry. The company, formerly known as New Jersey Mining Co., has a history in the mining sector and continues to be involved in the exploration and development of precious metals.

InvestingPro Insights

In light of the recent insider sales at Idaho Strategic Resources, Inc., current and potential investors may find the following InvestingPro Insights useful for a deeper financial understanding of the company. The company’s market capitalization stands at approximately $118.23 million, indicating its size relative to other companies in the gold and silver ores industry. With a Price to Earnings (P/E) ratio of 39.21 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 36.26, Idaho Strategic Resources is trading at a valuation that reflects its earnings.

Despite insider sales, the company has shown notable revenue growth. The company’s revenue for the last twelve months as of Q1 2024 is reported at $16.21 million, which represents a significant growth of 49.06%. Moreover, the company’s revenue growth for Q1 2024 alone was an impressive 76.53%. These metrics demonstrate a robust upward trend in the company’s financial performance.

InvestingPro Tips for Idaho Strategic Resources, Inc. suggest that analysts are anticipating sales growth in the current year, which aligns with the company’s recent revenue figures. Additionally, the stock has experienced a considerable decline over the last week, with a 1-week price total return of -9.75%. This could potentially represent a buying opportunity for investors who believe in the company’s fundamentals and long-term prospects.

For those interested in a more comprehensive analysis, InvestingPro offers more tips on Idaho Strategic Resources, Inc. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 4 additional InvestingPro Tips available that could further guide investment decisions regarding this company.

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