Shares of Intrepid Potash, Inc (NYSE:IPI – Get Free Report) shot up 5% during mid-day trading on Tuesday . The company traded as high as $40.25 and last traded at $40.5930. 148,311 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 260,596 shares. The stock had previously closed at $38.67.
Wall Street Analyst Weigh In
Several equities analysts recently commented on IPI shares. Weiss Ratings reissued a “hold (c)” rating on shares of Intrepid Potash in a research report on Wednesday, August 19th. Freedom Capital upgraded shares of Intrepid Potash to a “strong-buy” rating in a research note on Friday, July 24th. UBS Group boosted their target price on shares of Intrepid Potash from $26.00 to $29.00 and gave the stock a “sell” rating in a research report on Wednesday, August 12th. Finally, Zacks Research raised shares of Intrepid Potash from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.00.
Get Our Latest Report on Intrepid Potash
Intrepid Potash Price Performance
Intrepid Potash (NYSE:IPI – Get Free Report) last announced its earnings results on Tuesday, August 4th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.22). The business had revenue of $66.69 million during the quarter, compared to analyst estimates of $64.86 million. Intrepid Potash had a net margin of 8.94% and a return on equity of 4.74%. On average, equities research analysts expect that Intrepid Potash, Inc will post 1.86 EPS for the current year.
Institutional Trading of Intrepid Potash
Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Intrepid Potash by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock valued at $193,000 after acquiring an additional 312 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Intrepid Potash by 197.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 544 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Intrepid Potash by 80.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 607 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Intrepid Potash by 2.9% in the 4th quarter. Deutsche Bank AG now owns 23,478 shares of the basic materials company’s stock valued at $651,000 after purchasing an additional 668 shares in the last quarter. Finally, Summit Global Investments lifted its position in shares of Intrepid Potash by 5.0% during the fourth quarter. Summit Global Investments now owns 15,574 shares of the basic materials company’s stock worth $432,000 after purchasing an additional 748 shares during the last quarter. 56.13% of the stock is owned by institutional investors and hedge funds.
Intrepid Potash Company Profile
Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company’s primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.
Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.
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