Intrepid Potash (IPI) was Upgraded by Credit Agricole to ” Outperform”. Earlier the firm had a rating of “Underperform ” on the company shares. Credit Agricole advised their investors in a research report released on May 10, 2016.
Many Wall Street Analysts have commented on Intrepid Potash. Shares were Reiterated by Piper Jaffray on Mar 1, 2016 to “Neutral” and Lowered the Price Target to $ 1 from a previous price target of $2.50 .
On the company’s financial health, Intrepid Potash reported $-0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $-0.16. The company had revenue of $73.28 million for the quarter, compared to analysts expectations of $54.73 million. The company’s revenue was down -37.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.09 EPS.
Intrepid Potash opened for trading at $1 and hit $1.09 on the upside on Friday, eventually ending the session at $1.02, with a gain of 2.00% or 0.02 points. The heightened volatility saw the trading volume jump to 8,62,372 shares. Company has a market cap of $78 M.
In a different news, 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 Companys conventional production comes from its underground West and East mines near Carlsbad New Mexico which services the West and HB mines.