Intrepid Potash, Inc $IPI Position Boosted by Goehring & Rozencwajg Associates LLC

Key Points

• Goehring & Rozencwajg Associates LLC increased its Intrepid Potash stake by 21.8% in the first quarter, bringing its holdings to 267,097 shares valued at about $11.4 million.
• Intrepid Potash reported better-than-expected Q1 earnings, with EPS of $0.62 versus the $0.48 estimate and revenue of $98.69 million versus expectations of $88.30 million.
• Despite the earnings beat, Wall Street remains cautious: the stock carries a consensus “Sell” rating with an average price target of $26.00, while shares recently traded around $34.94.

Goehring & Rozencwajg Associates LLC boosted its holdings in Intrepid Potash, Inc (NYSE:IPI - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 267,097 shares of the basic materials company's stock after acquiring an additional 47,781 shares during the quarter. Goehring & Rozencwajg Associates LLC owned 1.99% of Intrepid Potash worth $11,424,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IPI. Signaturefd LLC boosted its position in Intrepid Potash by 668.1% during the 4th quarter. Signaturefd LLC now owns 914 shares of the basic materials company's stock worth $25,000 after acquiring an additional 795 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Intrepid Potash by 197.8% during the second quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 544 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Intrepid Potash during the first quarter valued at about $37,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Intrepid Potash during the fourth quarter valued at about $44,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Intrepid Potash by 80.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company's stock worth $49,000 after purchasing an additional 607 shares during the period. Institutional investors own 56.13% of the company's stock.

Intrepid Potash Stock Performance

IPI opened at $34.94 on Thursday. Intrepid Potash, Inc has a one year low of $22.55 and a one year high of $50.34. The stock's fifty day moving average is $36.87 and its 200-day moving average is $36.45. The company has a market capitalization of $469.30 million, a PE ratio of 32.96 and a beta of 1.24.

Intrepid Potash (NYSE:IPI - Get Free Report) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. The business had revenue of $98.69 million during the quarter, compared to analysts' expectations of $88.30 million. Intrepid Potash had a return on equity of 4.53% and a net margin of 4.68%. On average, equities research analysts forecast that Intrepid Potash, Inc will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IPI has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Intrepid Potash from a "hold" rating to a "strong sell" rating in a research report on Friday, July 10th. Weiss Ratings raised shares of Intrepid Potash from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 22nd. Finally, UBS Group increased their price objective on shares of Intrepid Potash from $25.00 to $26.00 and gave the company a "sell" rating in a report on Thursday, May 14th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Sell" and an average price target of $26.00.

Insider Buying and Selling at Intrepid Potash

In other news, Director Lori A. Lancaster sold 4,800 shares of Intrepid Potash stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $45.24, for a total value of $217,152.00. Following the transaction, the director owned 10,540 shares of the company's stock, valued at $476,829.60. The trade was a 31.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.30% of the company's stock.

About Intrepid Potash

Intrepid Potash, Inc is a leading U.S.-based producer and marketer of potash and related specialty fertilizer products. The company's primary business centers on potassium chloride, a key nutrient used in agricultural applications to enhance crop yield and quality. In addition to potash, Intrepid Potash produces magnesium chloride and sodium chloride, which serve a variety of markets including de-icing, dust control and industrial chemical production.

Intrepid Potash operates through a combination of solution mining, solar evaporation and conventional underground mining techniques.

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