Idaho Strategic Resources Inc (IDR)
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symbol.quality_heading
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.
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.
symbol.quality_note
Our in-house stock scanner listed Idaho Strategic Resources in eight screens on July 26, 2026, including the fundamental rating at grade A. The SEC filings explain where that grade comes from — and what it leaves out: all $42,406,253 of 2025 revenue came from gold at a single underground mine, and 98 percent of it went to one broker who also happens to be a shareholder. The three rare earth projects that give the company its name have, according to the annual report, no resources, no reserves and no revenue at all. And the company itself attributes 97 percent of the first-quarter 2026 revenue jump to the gold price. Not investment advice — just a look at what the share price is actually paying for.
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Stock Watch
This analysis is as of July 26, 2026. Stock Watch will tell you what's changed at IDR since then.
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This stock currently matches 8 of our scanner strategies — each hit links to the scanner.
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Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 28.10 $ — 32% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
NeutralIn 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
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.
Analysts & Price Target
The price target sits 60.1% above the current price.
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.
Next Reporting Date
- Expected Earnings per Share
- 0.33 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.18 | 545.10 | 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 | 245.20 | 15 | 92.00 | 63.70 | 11 | 4 |
| 2026: Q1 | 0.40 | 241.40 | 15 | 99.00 | 44.10 | 9 | 2 |
- 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.
Assessment: Opportunities & Risks
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).
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.
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.
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.
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.
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.
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.
- 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.
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 |
| Website | idahostrategic.com |
| IPO Date | 23. Feb 2011 |
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.
Chart
Interactive price chart (TradingView).
Data as of: July 31, 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.