Intrepid Potash (IPI) Shares Gap Up to $3.31

Intrepid Potash, Inc. (NYSE:IPI) gapped up prior to trading on Tuesday . The stock had previously closed at $3.20, but opened at $3.31. Intrepid Potash shares last traded at $3.90, with a volume of 2178520 shares traded.

A number of research analysts have recently issued reports on IPI shares. Zacks Investment Research upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. ValuEngine lowered Intrepid Potash from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. Finally, BMO Capital Markets decreased their target price on Intrepid Potash from $4.00 to $3.25 and set a “market perform” rating on the stock in a research report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Intrepid Potash presently has an average rating of “Hold” and a consensus price target of $4.13.

The stock has a market cap of $433.96 million, a PE ratio of -21.67 and a beta of 0.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.47 and a quick ratio of 1.53.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Tuesday, October 30th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. Intrepid Potash had a negative return on equity of 1.15% and a negative net margin of 1.47%. The firm had revenue of $36.53 million for the quarter, compared to analyst estimates of $35.85 million. During the same quarter last year, the firm posted ($0.02) EPS. The business’s revenue was up 7.3% on a year-over-year basis. As a group, analysts expect that Intrepid Potash, Inc. will post 0.11 earnings per share for the current year.

In other news, CEO Robert P. Jornayvaz III acquired 10,800 shares of Intrepid Potash stock in a transaction that occurred on Wednesday, September 5th. The stock was purchased at an average cost of $3.30 per share, with a total value of $35,640.00. Following the purchase, the chief executive officer now owns 1,206,650 shares in the company, valued at $3,981,945. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert P. Jornayvaz III acquired 10,000 shares of Intrepid Potash stock in a transaction that occurred on Wednesday, August 15th. The stock was purchased at an average cost of $3.24 per share, with a total value of $32,400.00. Following the completion of the purchase, the insider now owns 1,206,650 shares in the company, valued at approximately $3,909,546. The disclosure for this purchase can be found here. Insiders have bought a total of 970,634 shares of company stock worth $3,460,298 in the last quarter. Insiders own 27.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of IPI. Macquarie Group Ltd. acquired a new stake in shares of Intrepid Potash in the 2nd quarter worth $108,000. BlueMountain Capital Management LLC acquired a new stake in shares of Intrepid Potash in the 2nd quarter worth $125,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Intrepid Potash by 152.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 33,008 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 19,919 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Intrepid Potash by 96.9% in the 2nd quarter. Bank of America Corp DE now owns 41,056 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 20,204 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Intrepid Potash in the 2nd quarter worth $252,000. 45.07% of the stock is owned by hedge funds and other institutional investors.

Intrepid Potash Company Profile (NYSE:IPI)

Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. 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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