Intrepid Potash Inc (IPI) : The most positive equity analysts on Intrepid Potash Inc (IPI) expects the shares to touch $4, whereas, the least positive believes that the stock will trade at $1 in the short term. The company is covered by 3 Wall Street Brokerage Firms. The average price target for shares are $2.67 with an expected fluctuation of $1.53 from the mean.
The short interest in Intrepid Potash Inc (IPI) has declined from 6,764,399 on June 15,2016 to 4,013,412 on June 30,2016. The change was measured at 2,750,987 shares or 40.7%. The leftover shorts were 7.4% of the floated shares. The days to cover are 1, given the average daily volume of 2,823,518 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, CLSA upgrades their rating on the shares of Intrepid Potash Inc (NYSE:IPI). The current rating of the shares is Outperform. Earlier, the shares were rated a Underperform by the brokerage firm. 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 $1.38, the bulls momentum made the stock top out at $1.4974 level for the day. The stock recorded a low of $1.33 and closed the trading day at $1.46, in the green by 8.15%. The total traded volume for the day was 1,899,768. The stock had closed at $1.35 in the previous days trading.
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.