Idaho Strategic Resources, Inc. (IDR) shares rallied 8.3% in the last trading session to close at $15.75. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 31.3% gain over the past four weeks.

Idaho Strategic Resources gained as gold prices were up 3.7% driven by safe-haven demand amid rising U.S-China trade tensions. Trump dropped new tariff rates on imports from most U.S. trade partners to 10% for 90 days but top consumer China remains subject to a steep 125% tariff.

This company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of +17.7%. Revenues are expected to be $7 million, up 18.6% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Idaho Strategic Resources, the consensus EPS estimate for the quarter has been revised 10.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on IDR going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Idaho Strategic Resources is part of the Zacks Mining - Gold industry. Kinross Gold (KGC), another stock in the same industry, closed the last trading session 8.9% higher at $13.02. KGC has returned 7.1% in the past month.

For Kinross Gold , the consensus EPS estimate for the upcoming report has changed +23.5% over the past month to $0.18. This represents a change of +80% from what the company reported a year ago. Kinross Gold currently has a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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