First Eagle Investment Management LLC Has $14.23 Million Holdings in Intrepid Potash, Inc $IPI

First Eagle Investment Management LLC cut its stake in Intrepid Potash, Inc (NYSE:IPI) by 31.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 398,174 shares of the basic materials company’s stock after selling 186,147 shares during the period. First Eagle Investment Management LLC owned approximately 2.99% of Intrepid Potash worth $14,227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new position in shares of Intrepid Potash during the first quarter valued at about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 acquiring an additional 312 shares during the period. Virtu Financial LLC acquired a new position in Intrepid Potash in the 1st quarter valued at approximately $217,000. PDT Partners LLC bought a new stake in shares of Intrepid Potash in the 1st quarter worth approximately $223,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Intrepid Potash in the 1st quarter worth approximately $235,000. Institutional investors own 56.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IPI shares. UBS Group lowered their price objective on Intrepid Potash from $24.00 to $23.00 and set a “sell” rating on the stock in a research report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intrepid Potash in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Intrepid Potash from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Finally, Zacks Research cut shares of Intrepid Potash from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Intrepid Potash presently has a consensus rating of “Sell” and a consensus price target of $23.00.

Intrepid Potash Price Performance

Intrepid Potash stock opened at $23.99 on Friday. The business has a 50 day simple moving average of $28.55 and a 200 day simple moving average of $32.33. The company has a market capitalization of $319.45 million, a PE ratio of -1.54 and a beta of 1.85. Intrepid Potash, Inc has a one year low of $20.86 and a one year high of $39.01.

Intrepid Potash (NYSE:IPI) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company had revenue of $53.22 million for the quarter, compared to analyst estimates of $49.54 million. Intrepid Potash had a positive return on equity of 1.48% and a negative net margin of 71.13%. Equities analysts anticipate that Intrepid Potash, Inc will post -0.17 earnings per share for the current fiscal year.

About Intrepid Potash

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.