Intrepid Potash (NYSE:IPI) Trading Up 12.6% – Here’s What Happened

Intrepid Potash, Inc (NYSE:IPI)’s share price traded up 12.6% on Monday . The company traded as high as $42.28 and last traded at $42.5660. 190,243 shares were traded during mid-day trading, a decline of 37% from the average session volume of 302,474 shares. The stock had previously closed at $37.81.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Weiss Ratings upgraded Intrepid Potash from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. UBS Group lifted their price target on Intrepid Potash from $24.00 to $25.00 and gave the company a “sell” rating in a research note on Thursday, March 5th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $25.00.

Intrepid Potash Stock Performance

The firm has a market cap of $585.35 million, a price-to-earnings ratio of 41.11 and a beta of 1.25. The business has a fifty day moving average of $39.81 and a two-hundred day moving average of $32.80.

Intrepid Potash (NYSE:IPI) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $98.69 million for the quarter, compared to analysts’ expectations of $88.30 million. Intrepid Potash had a return on equity of 4.53% and a net margin of 4.68%. On average, equities research analysts forecast that Intrepid Potash, Inc will post 1.14 earnings per share for the current year.

Institutional Investors Weigh In On Intrepid Potash

Large investors have recently bought and sold shares of the stock. Signaturefd LLC grew its holdings in Intrepid Potash by 668.1% during the 4th quarter. Signaturefd LLC now owns 914 shares of the basic materials company’s stock valued at $25,000 after buying an additional 795 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Intrepid Potash by 197.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $29,000 after buying an additional 544 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Intrepid Potash during the 1st quarter valued at $37,000. Federated Hermes Inc. grew its holdings in Intrepid Potash by 354.7% during the 3rd quarter. Federated Hermes Inc. now owns 1,355 shares of the basic materials company’s stock valued at $41,000 after buying an additional 1,057 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Intrepid Potash during the 4th quarter valued at $44,000. Institutional investors and hedge funds own 56.13% of the company’s stock.

About Intrepid Potash

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.