According to Zacks, “INTREPID POTASH, Inc. is the largest producer of potash in the U.S. and is dedicated to the production and marketing of potash and langbeinite, another mineral containing potassium. Intrepid owns five active potash production facilities — three in New Mexico and two in Utah “
Separately, ValuEngine cut shares of Intrepid Potash from a sell rating to a strong sell rating in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $4.92.
Intrepid Potash stock opened at $3.43 on Wednesday. The firm’s 50 day simple moving average is $3.25 and its 200-day simple moving average is $3.47. The company has a market cap of $467.16 million, a P/E ratio of 19.67 and a beta of 1.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.62 and a quick ratio of 0.57. Intrepid Potash has a fifty-two week low of $2.51 and a fifty-two week high of $4.41.
Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $62.51 million during the quarter, compared to analysts’ expectations of $55.68 million. Intrepid Potash had a net margin of 10.78% and a return on equity of 5.52%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted ($0.01) earnings per share. On average, analysts expect that Intrepid Potash will post 0.2 EPS for the current fiscal year.
In related news, insider Robert P. Jornayvaz III purchased 39,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average cost of $2.84 per share, for a total transaction of $112,180.00. Following the completion of the acquisition, the insider now owns 2,099,144 shares in the company, valued at approximately $5,961,568.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Hugh E. Harvey, Jr. purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $3.23 per share, with a total value of $64,600.00. Following the completion of the acquisition, the director now owns 231,972 shares of the company’s stock, valued at approximately $749,269.56. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 121,896 shares of company stock valued at $364,099. 27.80% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of IPI. Bank of Montreal Can boosted its holdings in shares of Intrepid Potash by 49,843.8% during the second quarter. Bank of Montreal Can now owns 7,991 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 7,975 shares during the period. Cutter & CO Brokerage Inc. acquired a new stake in shares of Intrepid Potash during the second quarter worth approximately $57,000. Alambic Investment Management L.P. acquired a new stake in Intrepid Potash in the first quarter valued at approximately $64,000. Stone Ridge Asset Management LLC acquired a new stake in Intrepid Potash in the second quarter valued at approximately $71,000. Finally, BNP Paribas Arbitrage SA lifted its stake in Intrepid Potash by 223.4% in the first quarter. BNP Paribas Arbitrage SA now owns 22,668 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 15,658 shares during the last quarter. Institutional investors and hedge funds own 42.62% of the company’s stock.
About Intrepid Potash
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.
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