Cowen & Company Downgrades Intrepid Potash to Underperform

Brokerage firm Cowen & Company Downgrades its rating on Intrepid Potash(NYSE:IPI). The shares have been rated Underperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Cowen & Company was issued on Apr 14, 2016.

In a different note, On Jan 26, 2016, Susquehanna said it Maintains its rating on Intrepid Potash. According to the research note, Susquehanna Lowers the price target to $1.5 per share from a prior target of $4. The shares have been rated ‘Neutral’ by the firm. On Jan 19, 2016, Societe Generale said it Upgrades its rating on Intrepid Potash. The shares have been rated ‘Sector Perform’ by the firm.

Intrepid Potash (IPI) shares turned negative on Mondays trading session with the shares closing down -0.01 points or -0.98% at a volume of 7,55,165. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.05. The peak price level was also seen at $1.05 while the days lowest was $0.9723. Finally the shares closed at $1.01. The 52-week high of the shares is $13.24 while the 52-week low is $0.65. According to the latest information available, the market cap of the company is $77 M.

Intrepid Potash(IPI) last announced its earnings results on Feb 29, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $42.82M. Analysts had an estimated revenue of $61.67M. Earnings per share were $-0.26. Analysts had estimated an EPS of $-0.11.

Several Insider Transactions has been reported to the SEC. On Mar 4, 2016, Robert P Iii Jornayvaz (CEO) purchased 461,614 shares at $0.94 per share price.

Intrepid Potash Inc. is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States. The Company sells potash and Trio into the agricultural market as a fertilizer. The Company also sells produce salt magnesium chloride and metal recovery salts from its potash mining processes. The Company owns three solution mining facilities and two conventional underground facilities that are utilized for producing potash. Its solution mining production comes from the HB solar solution mine near Carlsbad New Mexico a solar solution mine near Moab Utah and a solar evaporation shallow brine mine in Wendover Utah. The Company’s conventional production comes from its underground West and East mines near Carlsbad New Mexico which services the West and HB mines.

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