First Eagle Investment Management LLC Sells 127,500 Shares of Intrepid Potash, Inc $IPI

First Eagle Investment Management LLC cut its stake in Intrepid Potash, Inc (NYSE:IPI) by 32.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 270,674 shares of the basic materials company’s stock after selling 127,500 shares during the quarter. First Eagle Investment Management LLC’s holdings in Intrepid Potash were worth $8,277,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in Intrepid Potash by 197.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 544 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Intrepid Potash by 354.7% in the third quarter. Federated Hermes Inc. now owns 1,355 shares of the basic materials company’s stock worth $41,000 after buying an additional 1,057 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of 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 valued at $49,000 after acquiring an additional 607 shares during the period. State of Wyoming purchased a new position in Intrepid Potash during the second quarter valued at approximately $54,000. Finally, Legal & General Group Plc grew its stake in Intrepid Potash by 123.0% during the second quarter. Legal & General Group Plc now owns 2,112 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 1,165 shares in the last quarter. Hedge funds and other institutional investors own 56.13% of the company’s stock.

Intrepid Potash Price Performance

Shares of IPI opened at $36.02 on Wednesday. Intrepid Potash, Inc has a 1 year low of $20.86 and a 1 year high of $39.01. The stock has a 50 day simple moving average of $32.29 and a two-hundred day simple moving average of $29.28. The firm has a market cap of $483.75 million, a P/E ratio of -2.38 and a beta of 1.53.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Intrepid Potash from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. UBS Group lifted their price objective on Intrepid Potash from $23.00 to $24.00 and gave the company a “sell” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intrepid Potash in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Intrepid Potash has an average rating of “Sell” and a consensus price target of $24.00.

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.