Idaho Strategic Resources, Inc. (NYSE: IDR)

Sector: Basic Materials Industry: Gold CIK: 0001030192
Market Cap 678.43 Mn
P/B 9.14
P/E 68.85
P/S 19.15
ROIC (Qtr) 14.27
Div Yield % 0.00
Rev 1y % (Qtr) 80.09
Total Debt (Qtr) 2.96 Mn
Debt/Equity (Qtr) 0.04

About

Idaho Strategic Resources, Inc. (IDR) operates in the mining industry, with a focus on gold and rare earth element (REE) production. The company was established in 1996 and has since become a significant player in the mining sector. IDR's primary products are gold and gold concentrate, which are sold to smelters in South Korea and Japan. IDR's main business activities encompass gold and REE exploration, development, and production. The company's primary assets are the Golden Chest Mine and the New Jersey Mill, situated in the Murray Gold Belt area...

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Price action

Investment thesis

Bull case

  • Strong operating cash flow of 11.09M provides robust 3.74x coverage of total debt 2.96M, indicating excellent debt servicing capability and financial flexibility.
  • Healthy cash reserves of 4.22M provide 3.47x coverage of short-term debt 1.21M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 83.11M provides 28.05x coverage of total debt 2.96M, indicating robust asset backing and low credit risk.
  • Strong operating cash flow of 11.09M provides 6.31x coverage of SG&A expenses 1.76M, showing efficient operational cost management.
  • Short-term investments of 24.88M provide solid 43.84x coverage of other current liabilities 567410, indicating strong liquidity.

Bear case

  • Operating cash flow of 11.09M barely covers its investment activities of (43.77M), with a coverage ratio of -0.25, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (43.77M) provide weak support for R&D spending of 8.36M, which is -5.23x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Short-term investments of 24.88M significantly exceed cash reserves of 4.22M, which is 5.90x, indicating potentially excessive yield-seeking behavior at the expense of liquidity.
  • High receivables of 4.68M relative to inventory of 846561 (5.53 ratio) suggests aggressive credit terms or collection difficulties, potentially masking revenue quality issues.
  • Free cash flow of 2.72M provides weak coverage of capital expenditures of 8.37M, with a 0.33 ratio suggesting additional external financing needs for growth initiatives.

Peer comparison

Companies in the Gold
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 NEM NEWMONT Corp /DE/ 121.63 Bn 16.92 5.66 5.65 Bn
2 AEM Agnico Eagle Mines Ltd 96.06 Bn 27.86 9.09 0.34 Bn
3 B Barrick Mining Corp 82.76 Bn 23.10 5.67 4.71 Bn
4 WPM Wheaton Precious Metals Corp. 56.61 Bn 56.52 30.93 0.01 Bn
5 FNV FRANCO NEVADA Corp 44.11 Bn 47.96 28.52 0.00 Bn
6 KGC Kinross Gold Corp 38.43 Bn 21.85 5.96 1.24 Bn
7 PAAS Pan American Silver Corp 19.78 Bn 31.19 6.08 0.86 Bn
8 AGI Alamos Gold Inc 17.45 Bn 32.41 10.85 0.28 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 8.17 3.17
EV to Cash from Ops. EV/CFO 61.21 -11.55
EV to Debt EV to Debt 229.07 548.67
EV to EBIT EV/EBIT 68.89 12.24
EV to EBITDA EV/EBITDA 59.21 3.14
EV to Free Cash Flow [EV/FCF] EV/FCF 249.29 12.17
EV to Market Cap EV to Market Cap 1.00 1.72
EV to Revenue EV/Rev 19.16 7.50
Price to Book Value [P/B] P/B 9.14 5.26
Price to Earnings [P/E] P/E 68.85 -1.39
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 1.54
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 5.40
Dividend per Basic Share Div per Share (Qtr) 0.00 0.17
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 10.25
Interest Coverage Int. cover (Qtr) 0.00 406.21
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -96.02 -97.36
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -54.34 130.91
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -5.27
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 55.47 518.35
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 46.08 53.19
EBIT Growth (1y) % EBIT 1y % (Qtr) 55.47 679.30
EBT Growth (1y) % EBT 1y % (Qtr) 57.32 144.05
EPS Growth (1y) % EPS 1y % (Qtr) 47.92 224.62
FCF Growth (1y) % FCF 1y % (Qtr) -34.84 171.65
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 100.44 84.25
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.43 0.26
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.03
Cash Ratio Cash Ratio (Qtr) 1.03 3.14
Current Ratio Curr Ratio (Qtr) 8.55 4.90
Debt to Equity Ratio Debt/Equity (Qtr) 0.04 0.27
Interest Cover Ratio Int Coverage (Qtr) 0.00 406.21
Times Interest Earned Times Interest Earned (Qtr) 0.00 406.21
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 34.00 -19.19
EBIT Margin % EBIT Margin % (Qtr) 27.82 -44.57
EBT Margin % EBT Margin % (Qtr) 27.82 -34.79
Gross Margin % Gross Margin % (Qtr) 57.20 30.59
Net Profit Margin % Net Margin % (Qtr) 27.80 -40.44