Intrepid Potash, Inc $IPI Stake Trimmed by First Eagle Investment Management LLC

First Eagle Investment Management LLC cut its position in shares of Intrepid Potash, Inc (NYSE:IPI) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 249,174 shares of the basic materials company’s stock after selling 21,500 shares during the quarter. First Eagle Investment Management LLC’s holdings in Intrepid Potash were worth $6,910,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Intrepid Potash by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,572 shares of the basic materials company’s stock valued at $193,000 after buying an additional 312 shares in the last quarter. Peapod Lane Capital LLC grew its stake in Intrepid Potash by 0.7% during the 4th quarter. Peapod Lane Capital LLC now owns 46,086 shares of the basic materials company’s stock valued at $1,278,000 after acquiring an additional 339 shares in the last quarter. Glenorchy Capital Ltd grew its stake in Intrepid Potash by 0.6% during the 4th quarter. Glenorchy Capital Ltd now owns 59,032 shares of the basic materials company’s stock valued at $1,637,000 after acquiring an additional 355 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Intrepid Potash by 197.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 544 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Intrepid Potash by 80.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,360 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 607 shares in the last quarter. 56.13% of the stock is owned by hedge funds and other institutional investors.

Intrepid Potash Price Performance

Shares of Intrepid Potash stock opened at $46.70 on Wednesday. The firm has a market cap of $627.17 million, a price-to-earnings ratio of 44.06 and a beta of 1.25. Intrepid Potash, Inc has a 52-week low of $22.55 and a 52-week high of $50.34. The stock has a 50-day simple moving average of $40.26 and a 200-day simple moving average of $33.12.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. Intrepid Potash had a return on equity of 4.53% and a net margin of 4.68%.The business had revenue of $98.69 million during the quarter, compared to analyst estimates of $88.30 million. As a group, equities research analysts predict that Intrepid Potash, Inc will post 1.14 earnings per share for the current year.

Analyst Ratings Changes

IPI has been the topic of several research analyst reports. Weiss Ratings raised Intrepid Potash from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. UBS Group lifted their price target on Intrepid Potash from $24.00 to $25.00 and gave the company a “sell” rating in a report on Thursday, March 5th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $25.00.

Intrepid Potash Company Profile

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.