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.
Intrepid Potash, Inc. has dropped 20.44% in the last five trading days, however, the shares have posted positive gains of 10.77% in the last 4 weeks. Intrepid Potash, Inc. is up 25.22% in the last 3-month period. Year-to-Date the stock performance stands at -51.19%. Also, Major Brokerage house, CLSA upgrades its ratings on Intrepid Potash Inc (NYSE:IPI). According to the latest information available, the shares are now rated Outperform by the analysts at the agency. 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) : 4 analysts are covering Intrepid Potash Inc (NYSE:IPI) and their average rating on the stock is 3.43, which is read as a Hold. Intrepid Potash Inc (NYSE:IPI) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Intrepid Potash Inc (NYSE:IPI): The stock opened at $1.52 on Thursday but the bulls could not build on the opening and the stock topped out at $1.54 for the day. The stock traded down to $1.40 during the day, due to lack of any buying support eventually closed down at $1.44 with a loss of -4.00% for the day. The stock had closed at $1.50 on the previous day. The total traded volume was 2,943,937 shares.
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.