Intrepid Potash (NYSE:IPI) Announces Quarterly Earnings Results

Intrepid Potash (NYSE:IPI) released its earnings results on Monday. The basic materials company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.25), Zacks reports. The company had revenue of $57.55 million for the quarter, compared to analysts’ expectations of $42.57 million. Intrepid Potash had a negative return on equity of 2.02% and a negative net margin of 19.19%. During the same period in the prior year, the firm posted ($0.53) EPS.

Intrepid Potash Trading Up 8.2 %

Shares of IPI stock traded up $2.19 during trading hours on Tuesday, hitting $28.91. The company’s stock had a trading volume of 209,958 shares, compared to its average volume of 89,153. The company has a 50 day moving average of $24.20 and a 200 day moving average of $23.91. The stock has a market cap of $383.92 million, a PE ratio of -7.61 and a beta of 2.18. Intrepid Potash has a 12-month low of $17.52 and a 12-month high of $29.10.

Wall Street Analysts Forecast Growth

Separately, UBS Group upped their price objective on shares of Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday.

Intrepid Potash Company 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.