Intrepid Potash, Inc. (NYSE:IPI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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 “
Shares of Intrepid Potash (NYSE:IPI) traded up 0.58% during mid-day trading on Tuesday, reaching $1.72. The company had a trading volume of 799,695 shares. The stock has a 50 day moving average of $1.87 and a 200-day moving average of $1.65. Intrepid Potash has a 52 week low of $0.85 and a 52 week high of $3.04. The company’s market capitalization is $124.37 million.
Intrepid Potash (NYSE:IPI) last posted its earnings results on Tuesday, February 28th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by $0.08. The business had revenue of $42.20 million for the quarter, compared to analyst estimates of $28.54 million. Intrepid Potash had a negative return on equity of 16.76% and a negative net margin of 268.61%. Intrepid Potash’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business earned ($0.26) EPS. On average, analysts expect that Intrepid Potash will post ($0.32) earnings per share for the current fiscal year.
In other Intrepid Potash news, insider Robert P. Jornayvaz III bought 6,300,000 shares of the business’s stock in a transaction on Tuesday, March 21st. The stock was bought at an average price of $1.20 per share, with a total value of $7,560,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hugh E. Harvey, Jr. bought 3,233,332 shares of the business’s stock in a transaction on Tuesday, March 21st. The shares were acquired at an average cost of $1.20 per share, with a total value of $3,879,998.40. The disclosure for this purchase can be found here. 27.20% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the company. FMR LLC boosted its stake in Intrepid Potash by 203.7% in the fourth quarter. FMR LLC now owns 4,866,500 shares of the company’s stock valued at $10,123,000 after buying an additional 3,263,900 shares during the period. Renaissance Technologies LLC boosted its stake in Intrepid Potash by 21.6% in the fourth quarter. Renaissance Technologies LLC now owns 4,255,050 shares of the company’s stock valued at $8,851,000 after buying an additional 754,550 shares during the period. Koch Industries Inc. acquired a new stake in Intrepid Potash during the fourth quarter valued at about $2,725,000. Great Lakes Advisors LLC boosted its stake in Intrepid Potash by 10.7% in the third quarter. Great Lakes Advisors LLC now owns 1,171,655 shares of the company’s stock valued at $1,324,000 after buying an additional 113,010 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Intrepid Potash by 40.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 936,918 shares of the company’s stock valued at $1,949,000 after buying an additional 267,978 shares during the period. 42.60% of the stock is owned by institutional investors.
Intrepid Potash Company Profile
Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium containing products segment. Its products are potash and Trio.
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