Intrepid Potash (IPI) Shares Down 6.8%
Intrepid Potash, Inc. (NYSE:IPI)’s share price traded down 6.8% during trading on Thursday . The company traded as low as $3.22 and last traded at $3.30. 1,192,231 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 1,091,816 shares. The stock had previously closed at $3.54.
A number of equities analysts have recently commented on the company. Zacks Investment Research cut Intrepid Potash from a “buy” rating to a “hold” rating in a report on Tuesday. Cowen reiterated a “sell” rating and issued a $3.50 target price on shares of Intrepid Potash in a report on Friday, December 1st. Stephens assumed coverage on Intrepid Potash in a report on Monday, December 4th. They issued an “equal weight” rating and a $4.00 target price for the company. Finally, BMO Capital Markets lifted their target price on Intrepid Potash from $3.00 to $4.00 and gave the stock a “market perform” rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $3.55.
The company has a market capitalization of $431.54, a price-to-earnings ratio of -7.33 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.71 and a quick ratio of 1.17.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Intrepid Potash by 30.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,255,979 shares of the basic materials company’s stock valued at $9,619,000 after acquiring an additional 994,554 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Intrepid Potash by 82.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,181,060 shares of the basic materials company’s stock valued at $13,870,000 after acquiring an additional 1,435,178 shares during the period. State Street Corp boosted its holdings in Intrepid Potash by 3,191.0% during the 2nd quarter. State Street Corp now owns 1,144,560 shares of the basic materials company’s stock valued at $2,590,000 after acquiring an additional 1,109,782 shares during the period. Northern Trust Corp boosted its holdings in Intrepid Potash by 540.0% during the 2nd quarter. Northern Trust Corp now owns 1,091,221 shares of the basic materials company’s stock valued at $2,466,000 after acquiring an additional 920,720 shares during the period. Finally, Old West Investment Management LLC boosted its holdings in Intrepid Potash by 18.5% during the 3rd quarter. Old West Investment Management LLC now owns 1,012,459 shares of the basic materials company’s stock valued at $4,414,000 after acquiring an additional 158,256 shares during the period. Institutional investors own 47.92% of the company’s stock.
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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-related products. Its products are potash and Trio.
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