01. Idaho Strategic Resources, Inc. (NYSE:IDR)
Upside Potential: 61%
Forward P/E Ratio: 12.94
Year To Date Share Price Gain: 61%
Topping our list of ten best gold stocks to invest in now is Idaho Strategic Resources, Inc. (NYSE: IDR). Idaho Strategic Resources, Inc. (NYSE: IDR) is making waves in the gold mining industry. With a forward P/E ratio of 12.94 and a substantial upside potential of 61%, based on a target price of $16.50 compared to its current price of $10.22, this stock is a compelling investment opportunity. Notably, Idaho Strategic has already delivered an impressive 61% year-to-date return, demonstrating strong momentum.
Headquartered in Coeur d'Alene, Idaho, the company focuses on gold, silver, and base metal mining, primarily in the Greater Coeur d'Alene Mining District. Its flagship asset, the Golden Chest Mine, is a producing gold mine located in the Murray Gold Belt. Additionally, Idaho Strategic boasts a portfolio of rare earth element projects and early-stage exploration properties, showcasing its diversified resource base.
In its Q3 2024 earnings report, Idaho Strategic reported an 86.39% year-over-year increase in revenue and an astonishing 376.44% surge in net income. Adjusted all-in sustaining costs, excluding exploration expenses, stood at $1,109.79 per ounce, highlighting efficient cost management. These robust financials reflect the company’s strategic approach to operations and asset utilization.
Operational highlights at the Golden Chest Mine include mining approximately 10,500 tonnes of ore with a head grade of 9.32 gpt gold and achieving a remarkable 93.1% gold recovery rate. Idaho Strategic also set a quarterly record by placing 3,820 cubic meters of cemented rockfill. The company’s exploration activities remain active, targeting new zones like Red Star and advancing other high-potential areas.
CEO John Swallow emphasized the company’s disciplined approach to cash flow, balance sheet improvement, and debt reduction. With cash levels at an all-time high, Idaho Strategic is well-positioned for future growth. The team is actively expanding its production capabilities and exploration efforts, supported by a robust operational and financial foundation.
Idaho Strategic’s strong fundamentals, innovative exploration, and disciplined management make it a standout in the gold sector, offering significant upside potential for investors.
