First Eagle Investment Management LLC Has $9.64 Million Position in Intrepid Potash, Inc. (NYSE:IPI)

First Eagle Investment Management LLC boosted its position in Intrepid Potash, Inc. (NYSE:IPI - Free Report) by 18.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 403,470 shares of the basic materials company's stock after purchasing an additional 62,307 shares during the quarter. First Eagle Investment Management LLC owned approximately 3.11% of Intrepid Potash worth $9,639,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IPI. WealthTrust Axiom LLC grew its stake in Intrepid Potash by 5.0% during the 3rd quarter. WealthTrust Axiom LLC now owns 10,500 shares of the basic materials company's stock valued at $264,000 after purchasing an additional 500 shares during the last quarter. Swiss National Bank increased its holdings in Intrepid Potash by 5.6% in the 3rd quarter. Swiss National Bank now owns 24,600 shares of the basic materials company's stock worth $619,000 after buying an additional 1,300 shares during the period. Principal Financial Group Inc. raised its position in Intrepid Potash by 28.3% during the 4th quarter. Principal Financial Group Inc. now owns 12,995 shares of the basic materials company's stock worth $310,000 after buying an additional 2,864 shares during the last quarter. Barclays PLC lifted its stake in Intrepid Potash by 33.5% during the 3rd quarter. Barclays PLC now owns 14,646 shares of the basic materials company's stock valued at $369,000 after acquiring an additional 3,677 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Intrepid Potash during the 3rd quarter valued at approximately $120,000. 56.13% of the stock is owned by hedge funds and other institutional investors.

Intrepid Potash Trading Down 0.8 %

NYSE IPI traded down $0.19 on Friday, reaching $24.88. 73,933 shares of the company were exchanged, compared to its average volume of 119,321. The business's fifty day moving average price is $20.79 and its 200 day moving average price is $20.61. The stock has a market capitalization of $330.16 million, a P/E ratio of -7.36 and a beta of 2.17. Intrepid Potash, Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $28.30.

Intrepid Potash (NYSE:IPI - Get Free Report) last posted its earnings results on Wednesday, March 6th. The basic materials company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.20). Intrepid Potash had a negative net margin of 15.95% and a negative return on equity of 1.37%. The firm had revenue of $49.04 million during the quarter, compared to analyst estimates of $41.63 million.

Analyst Upgrades and Downgrades

IPI has been the subject of a number of analyst reports. StockNews.com raised Intrepid Potash to a "sell" rating in a report on Friday, May 10th. BMO Capital Markets increased their price target on shares of Intrepid Potash from $21.00 to $23.00 and gave the stock a "market perform" rating in a report on Friday, May 10th.

Insider Activity at Intrepid Potash

In other news, CEO Robert P. Jornayvaz III sold 5,384 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $19.35, for a total value of $104,180.40. Following the transaction, the chief executive officer now directly owns 1,518,920 shares in the company, valued at approximately $29,391,102. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Robert P. Jornayvaz III sold 5,384 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $19.35, for a total transaction of $104,180.40. Following the transaction, the chief executive officer now owns 1,518,920 shares of the company's stock, valued at approximately $29,391,102. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Robert P. Jornayvaz III sold 63,372 shares of Intrepid Potash stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $20.43, for a total value of $1,294,689.96. Following the completion of the transaction, the chief executive officer now directly owns 1,542,551 shares of the company's stock, valued at $31,514,316.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,034 shares of company stock worth $1,939,525. Company insiders own 18.00% of the company's stock.

Intrepid Potash Profile

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.