Intrepid Potash (NYSE:IPI) Issues Quarterly Earnings Results

by · The Markets Daily

Intrepid Potash (NYSE:IPI – Get Free Report) issued its earnings results on Wednesday. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.23, FiscalAI reports. Intrepid Potash had a positive return on equity of 2.32% and a negative net margin of 70.24%.The business had revenue of $75.88 million during the quarter, compared to the consensus estimate of $65.25 million.

Intrepid Potash Stock Up 0.4%

IPI stock traded up $0.14 during trading on Wednesday, reaching $36.12. 222,550 shares of the company’s stock were exchanged, compared to its average volume of 191,731. Intrepid Potash has a 1-year low of $22.55 and a 1-year high of $39.01. The company’s fifty day moving average price is $32.29 and its 200-day moving average price is $29.28. The firm has a market cap of $485.09 million, a PE ratio of -2.38 and a beta of 1.53.

Analyst Upgrades and Downgrades

IPI has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intrepid Potash in a report on Thursday, January 22nd. UBS Group boosted their price target on Intrepid Potash from $23.00 to $24.00 and gave the company a “sell” rating in a research report on Monday, January 12th. Finally, Wall Street Zen downgraded shares of Intrepid Potash from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Sell” and an average price target of $24.00.

Get Our Latest Report on Intrepid Potash

Hedge Funds Weigh In On Intrepid Potash

Several large investors have recently made changes to their positions in IPI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Intrepid Potash by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock worth $193,000 after buying an additional 312 shares during the period. Empowered Funds LLC boosted its holdings in Intrepid Potash by 7.3% in the first quarter. Empowered Funds LLC now owns 60,623 shares of the basic materials company’s stock worth $1,782,000 after purchasing an additional 4,137 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Intrepid Potash by 123.0% during the 2nd quarter. Legal & General Group Plc now owns 2,112 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 1,165 shares during the last quarter. Quantbot Technologies LP acquired a new position in Intrepid Potash during the second quarter valued at approximately $420,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Intrepid Potash in the 2nd quarter worth $3,441,000. Institutional investors own 56.13% of the company’s stock.

Intrepid Potash Company Profile

(Get Free Report)

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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