Intrepid Potash Inc (NYSE:IPI) stock is expected to deviate a maximum of $1.53 from the average target price of $2.67 for the short term period. 3 Street Experts have initiated coverage on the stock with the most promising target being $4 and the most muted being $1.
Other Equity analysts have also commented on the company shares. Equity Analysts at the Brokerage Firm, CLSA, upgrades their rating on the shares of Intrepid Potash Inc (NYSE:IPI). CLSA has a Outperform rating on the shares. Previously, the analysts had a Underperform rating on the shares. The rating by the firm was issued on May 10, 2016.
Intrepid Potash Inc (NYSE:IPI): stock turned positive on Thursday. Though the stock opened at $1.57, the bulls momentum made the stock top out at $1.83 level for the day. The stock recorded a low of $1.53 and closed the trading day at $1.81, in the green by 22.30%. The total traded volume for the day was 6,666,266. The stock had closed at $1.48 in the previous days trading.
The company shares have dropped -87.83% from its 1 Year high price. On Jun 26, 2015, the shares registered one year high at $12.23 and the one year low was seen on Mar 1, 2016. The 50-Day Moving Average price is $1.32 and the 200 Day Moving Average price is recorded at $1.73. On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of Intrepid Potash, Inc., Jornayvaz Robert P Iii had purchased shares worth of $437,002 in a transaction dated on May 11, 2016. A total of 338,761 shares were purchased at a price of $1.29 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
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.