Idaho Strategic Resources, Inc. (IDR) released its quarterly earnings, reporting $0.15 per share, which fell short of the Zacks Consensus Estimate of $0.21 per share. This figure reflects an increase from earnings of $0.03 per share in the same quarter last year. All numbers have been adjusted for non-recurring items.
This report indicates an earnings surprise of -28.57%. In the previous quarter, expectations were that the company would earn $0.07 per share, but it outperformed that estimate with $0.17, delivering a surprise of 142.86%.
Over the past four quarters, Idaho Strategic Resources has exceeded consensus EPS estimates on two occasions.
Revenue Update: Lower Than Expected, But Up Year-Over-Year
Idaho Strategic Resources, classified in the Zacks Mining – Gold industry, generated revenues of $6.15 million for the quarter ending September 2024. This figure is 16.85% below the Zacks Consensus Estimate and up from $3.3 million a year earlier. The company has exceeded revenue consensus estimates three times in the last four quarters.
The immediate movement of the stock price following these earnings will largely hinge on management’s insights during the upcoming earnings call.
Despite the quarterly misses, Idaho Strategic Resources shares have surged approximately 151.6% this year, far outpacing the S&P 500’s gain of 20.1%.
Future Outlook: Positive Estimate Revisions
Looking forward, investors wonder what lies ahead for Idaho Strategic Resources. One key measure is the outlook for the company’s earnings, which involves current consensus expectations for upcoming quarters and any recent changes in those estimates.
Research shows that revisions in earnings estimates are often linked to stock performance. Investors can monitor these revisions independently or utilize tools like the Zacks Rank, which has a strong history of leveraging earnings estimate changes effectively.
Prior to this earnings release, the trend for estimate revisions for Idaho Strategic Resources appeared favorable. Although the specifics may change following this recent report, the current outlook has earned the stock a Zacks Rank of #1 (Strong Buy), indicating expectations for short-term outperformance compared to the market. Details on today’s Zacks #1 Rank stocks can be accessed here.
In the upcoming quarters, analysts project a consensus EPS estimate of $0.22 with revenues of $7.7 million, and for this fiscal year, an estimate of $0.77 with revenues reaching $27.1 million.
Moreover, it’s crucial to consider the overall industry outlook, as it can significantly influence stock performance. The Mining – Gold sector is currently ranked in the top 6% of over 250 Zacks industries, historically outperforming the lower rankings significantly.
Kinross Gold Prepares to Announce Earnings
Kinross Gold (KGC), another player in this sector, is set to report its earnings for the quarter ending September 2024 on November 5. Analysts predict a quarterly earnings figure of $0.18 per share, reflecting a year-over-year increase of +50%. The consensus EPS estimate for this quarter has been adjusted down by 1.5% over the past month.
Kinross Gold’s anticipated revenues are projected at $1.19 billion, representing a rise of 7.7% compared to last year.
Explore Investment Opportunities
Zacks’ research team identifies standout stocks. They have selected the top five stocks with potential to deliver over 100% gains in the coming months. One standout among these has been chosen by Sheraz Mian, the Director of Research, for its immense upside potential.
This particular company targets millennial and Gen Z markets, boasting nearly $1 billion in revenue last quarter. A recent dip in its stock price makes this an opportune time for investment. While not all top picks guarantee success, this one could surpass earlier Zacks favorites, like Nano-X Imaging, which rose by +129.6% in just over nine months.
Access Zacks’ top stock picks and other promising candidates.
Idaho Strategic Resources, Inc. (IDR): Free Stock Analysis Report
Kinross Gold Corporation (KGC): Free Stock Analysis Report
To read this article on Zacks.com, click here.
Zacks Investment Research
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
