Idaho Strategic Resources Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
The company demonstrably earns money, the balance sheet is unusually clean, and management puts the awkward passages into the filing itself — all of which points to quality. What remains open is the operating core question, and it is not a small one: the entire business rests on a single mine with a little over five years of reserves, on a mill the company owns only 65 percent of, and on a single buyer who most recently took 100 percent of sales. On top of that, the earnings jump was 97 percent price-driven by the company's own arithmetic, and the reserve grade has fallen from 8.99 to 6.95 grams per tonne. This is no threat to the substance — the treasury is too full and the debt too small for that — but it is considerably more than a formality. Hence yellow: proven earnings power, unresolved concentration. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Idaho Strategic Resources is a small, well-run and unusually well-funded gold mine with a big story attached. The business is real: $42,406,253 of revenue and $16,631,198 of net income in 2025, $76.5 million of cash and treasuries against $2.0 million of debt at March 31, 2026. The limits are just as real: 97 percent of the first-quarter 2026 revenue increase came from the gold price, 98 to 100 percent of sales go to one broker, the reserve grade has fallen to 6.95 grams per tonne, and the rare earths in the company name still have no resources and no revenue. At roughly $449 million of market value (closing price $28.38 on July 24, 2026) the market is paying for both — the mine and the story. Not investment advice.
Earnings power
A chronic loss maker has turned into a genuine profit generator: net income of $16,631,198 in 2025 after $8,753,377 (2024) and $1,157,746 (2023), preceded by losses. The gross margin rose from 50.3 to 61.8 percent, and to 66.1 percent in the first quarter of 2026. Operating cash flow reached $19,101,691 in 2025. Since the first quarter of 2026 the company also pays income tax ($1,359,320 in the quarter).
Balance sheet
At March 31, 2026 the company held $20,791,904 in cash and $55,660,141 in U.S. treasury notes against total liabilities of $6,635,889, of which only $2,023,500 was interest-bearing debt. Equity stood at $119,333,642. This company can fund its drill programs and the new mill out of its own resources — a position few small producers ever reach.
Dependence on the gold price
The earnings jump is largely borrowed. The realized gold price rose from $2,306.86 per ounce (2024) to $3,583.43 (2025) and $4,702.04 in the first quarter of 2026, while output grew only from 11,915 to 12,538 ounces. The company itself attributes 97 percent of the first-quarter 2026 revenue increase to price. At the same time all-in sustaining costs rose by $417.74 in 2025 to $1,891.79 per ounce.
Concentration risk
One mine, one mill, one buyer: the annual report calls Golden Chest the only property with calculated reserves, the New Jersey Mill is only 65 percent owned, and 98 percent of 2025 gold sales — 100 percent in the first quarter of 2026 — went to H&H Metals, which is also a shareholder. The entire $3,920,174 receivable at March 31, 2026 is due from that single counterparty.
Dilution
The share count rose 14.9 percent during 2025, from 13,665,058 to 15,705,199, and stood at 15,809,859 on May 1, 2026. Stock sales brought in $52,027,149 net — more than two and a half times operating cash flow. An at-the-market program of up to $20 million has been running since October 2, 2025, and an automatic shelf registration with no dollar cap has been on file since October 16, 2025.
Rare earths
The three projects Mineral Hill, Lemhi Pass and Diamond Creek cover roughly 21,385 acres; samples in 2025 returned up to 17.6 percent total rare earth content and 2,056 meters were drilled in the fourth quarter. But the annual report states expressly that no resources and no reserves have been established there. It is a real option — with an open timetable and no figure by which to measure it.
Worth Noting
Idaho Strategic Resources reached our research list through our in-house stock scanner: the stock sits in the U.S. selection of the "Fundamental Rank (A / A+)" screen with a fundamental rating of 79 out of 100 (grade A starts at 75), plus seven further screens — Beneish M-Score, Gary Antonacci: Dual Momentum, High ADR (5 percent or more), High revenue growth, Matt Caruso: Sales Leader, Pradeep Bonde: $ Breakout Bullish and Stan Weinstein: Stage 1 (as of July 26, 2026). The lists are recomputed daily.
Risk of confusion: Idaho Strategic Resources was named New Jersey Mining Company until December 6, 2021, which is why the New Jersey Mill and New Jersey Mine carry those names although every asset lies in Idaho. The Form 15-12G of May 16, 2013 in the EDGAR file relates to a class of securities deregistered at that time; the common stock has been continuously registered since and trades on the NYSE American under commission file number 001-41320.
Valuation figures are dated and evergreen: the $28.38 price anchor is the closing price of July 24, 2026 and is explicitly not a buy argument. Two filing figures confirm the order of magnitude: $168,504,500 of market value held by non-affiliates at June 30, 2025 (annual report 10-K) and a closing price of $34.23 on October 1, 2025 (prospectus supplement 424B5). The roughly $449 million market capitalization is calculated from 15,809,859 shares (as of May 1, 2026) and the closing price.
Stock Watch
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 26.40 $ to 52.70 $ · Last price: 29.10 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Gold
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Idaho Strategic Resources Inc IDR | 0.5 | 23.6 | 15.7 | 69.7 | – | 64.6 | 0.6 |
| Newmont Goldcorp Corp NEM | 132.8 | 16.0 | 7.9 | 68.0 | 61.4 | 19.1 | 59.6 |
| Barrick Mining Corporation B | 72.0 | 12.3 | 5.0 | 56.3 | 56.3 | 31.2 | 50.6 |
| AngloGold Ashanti plc AU | 53.3 | 15.0 | 7.8 | 54.8 | 56.1 | 70.8 | 59.1 |
| Coeur Mining Inc CDE | 22.1 | 15.6 | 12.6 | 56.3 | 43.1 | 96.4 | 25.0 |
| Royal Gold Inc RGLD | 21.4 | 30.6 | 16.9 | 86.8 | 63.8 | 44.6 | 34.8 |
| SSR Mining Inc SSRM | 7.5 | 14.0 | 6.6 | 55.0 | 52.5 | 66.6 | 66.1 |
| Aura Minerals Inc. AUGO | 7.4 | 24.9 | 12.5 | 60.0 | 51.4 | 55.1 | 180.7 |
| Osisko Gold Ro OR | 6.9 | 24.7 | 18.8 | 96.9 | 77.0 | 47.5 | 1.5 |
| Median of companies shown | 21.4 | 16.0 | 12.5 | 60.0 | 56.2 | 55.1 | 50.6 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 1 | -1 | -1 | -0.20 | -1 | 2 | 9 |
| 2017 | 4 | 0 | 0 | 0.00 | 0 | 4 | 9 |
| 2018 | 4 | 1 | 1 | 0.10 | -1 | 6 | 11 |
| 2019 | 6 | -1 | -1 | -0.07 | 0 | 9 | 11 |
| 2020 | 6 | -1 | -1 | -0.07 | 0 | 11 | 15 |
| 2021 | 8 | -3 | -3 | -0.31 | -1 | 13 | 18 |
| 2022 | 10 | -3 | -3 | -0.22 | -2 | 18 | 21 |
| 2023 | 14 | 1 | 1 | 0.09 | 2 | 18 | 24 |
| 2024 | 26 | 8 | 9 | 0.67 | 11 | 38 | 44 |
| 2025 | 42 | 16 | 17 | 1.14 | 19 | 108 | 116 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.22 | – | 8 | 100.90 | 33.00 | 3 | 1 |
| 2025: Q1 | 0.12 | -31.60 | 7 | 23.40 | 22.10 | 2 | 1 |
| 2025: Q2 | 0.20 | 18.30 | 10 | 54.70 | 29.20 | 4 | 2 |
| 2025: Q3 | 0.20 | 32.30 | 11 | 80.10 | 26.80 | 2 | 0 |
| 2025: Q4 | 0.63 | 186.40 | 15 | 92.00 | 63.70 | 11 | 4 |
| 2026: Q1 | 0.40 | 241.40 | 15 | 99.00 | 44.10 | 9 | 2 |
| 2026: Q2 | 0.23 | 15.00 | 11 | 12.60 | 34.60 | 5 | 2 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 7 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 1.39 | 1.39 – 1.39 | 54 | – | 1 |
| 12/31/2027 | 1.41 | 1.41 – 1.41 | 53 | – | 1 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
In den sechs ausgewerteten SEC-Berichten (zwei Geschäftsberichte 10-K, vier Quartalsberichte 10-Q) kommt künstliche Intelligenz an keiner Stelle vor — weder als Umsatzquelle noch als Risikofaktor noch als betrieblich eingesetzte Technik; Idaho Strategic Resources fördert Gold am Golden Chest und exploriert Seltene Erden, die einzige technologienahe Erwähnung ist die erhoffte künftige Nachfrage nach Seltenen Erden aus „advanced robotics“ und Verteidigungstechnik.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-K 2026-03-23 · 10-K 2025-03-31 · 10-Q 2026-05-14 · 10-Q 2025-11-12 · 10-Q 2025-08-07 · 10-Q 2025-05-08
Rated on July 26, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 64.2%
- More than 10% revenue growth is expected for the coming year 0.2%
- Share count grows by less than 3% a year 7.7%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 78.8%
- Gross margin at 40% or higher and without meaningful erosion 43.8%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 43 m net cash
- Operating cash flow covers the profits of the last three years 5 m
- Return on capital at 15% or higher, or up versus two years ago 14.2%
- Insiders hold at least 10% or are net buyers 5.6%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
6/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 62.4%
- Exp. sales growth 3Y > 5% 12.1%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 11.4%
- Net debt < 4x EBIT -2.7x
- EBIT positive, 10Y straight 5
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% 15.5%
- ROCE > 15% 14.2%
- Expected return > 10% 12.8%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
The company
About the Company
Idaho Strategic Resources, Inc., ein ressourcenbasiertes Unternehmen, beschäftigt sich mit der Exploration, Erschließung und Gewinnung von Gold-, Silber- und Basismetallvorkommen in North Idaho.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 62
- Headquarters
- Coeur d'Alene, ID
- Address
- 201 North Third Street, 83814 Coeur d'Alene, United States
- Phone
- 208 625 9001
- Website
- idahostrategic.com
- IPO Date
- 02/23/2011
- ISIN
- US6458272050
- Stock Split
- 1:14 on 12/06/2021
Management
| Name | Title | Birth Year |
|---|---|---|
| John A. Swallow | Chairman of the Board, CEO & President | 1966 |
| Grant A. Brackebusch P.E. | Co-Founder, CFO, VP of Operations & Director | 1970 |
| Robert John Morgan | Vice President of Exploration | 1968 |
| John Etienne | Senior Geologist | – |
| Monique Hayes | Corporate Secretary | 1966 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/13/2026 Idaho Strategic Resources, Inc. (IDR): Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.