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DENVER—Robert P. Jornayvaz III, a significant shareholder of Intrepid Potash, Inc. (NYSE:IPI), has recently executed a sale of company shares totaling $740,202, according to a recent SEC filing. The transactions were carried out over two days, on March 24 and 25, with share prices ranging from $30.58 to $30.68. The sale comes as the stock trades near its 52-week high, with the company showing a strong year-to-date return of 37%. According to InvestingPro analysis, the stock currently appears slightly overvalued based on its Fair Value assessment.
Jornayvaz sold 15,476 shares on March 24 and an additional 8,701 shares on March 25. Following these transactions, he retains an indirect ownership of 1,114,529 shares through Intrepid Production Corporation, where he is the sole shareholder.
These transactions were executed by Gregory Gerbus, acting as attorney-in-fact for Mr. Jornayvaz.
In other recent news, Intrepid Potash Inc . reported its financial results for the fourth quarter of 2024, revealing a mixed performance. The company’s earnings per share (EPS) came in at a loss of $0.11, missing the forecasted EPS of $0.10. However, Intrepid Potash exceeded revenue expectations with $55.8 million, surpassing the anticipated $52.36 million. The company also reported a significant increase in potash production, which rose by 50% year-over-year. Despite these gains, the company faced a net loss, which impacted investor sentiment. Analysts from UBS have noted concerns over Canadian potash tariffs, which could affect market dynamics. Additionally, Intrepid Potash is projecting flat potash production for 2025, with Trio production expected to reach 480,000 tons. The company remains focused on strategic capital investments to sustain production levels and improve cost efficiencies.
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