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Robert P. Jornayvaz III, a ten percent owner of Intrepid Potash, Inc. (NYSE:IPI), recently sold shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transactions took place over two days, with a total of 10,266 shares sold. The timing is notable as the stock has shown strong momentum, with a 34% gain year-to-date and currently trading near its 52-week high of $31.29. According to InvestingPro analysis, the stock appears to be fairly valued at current levels.
On March 26, Jornayvaz sold 8,984 shares at a weighted average price of $30.56, while on March 27, he sold an additional 1,282 shares at a weighted average price of $30.58. The sales, conducted through Intrepid Production Corporation, where Jornayvaz is the sole shareholder, amounted to a total of $313,754. With a beta of 2.19, IPI shows significant price volatility compared to the broader market. For comprehensive insider trading analysis and 11 additional key insights about IPI, check out the detailed research available on InvestingPro.
Following these transactions, Jornayvaz’s indirect ownership through Intrepid Production Corporation now totals 1,104,263 shares, representing a significant portion of the company’s $361 million market capitalization.
In other recent news, Intrepid Potash Inc . reported its financial results for the fourth quarter of 2024. The company posted an earnings per share (EPS) loss of $0.11, which fell short of the forecasted EPS of $0.10. However, Intrepid Potash surpassed revenue expectations, recording $55.8 million against a projected $52.36 million. The company’s potash production increased by 50% year-over-year, while Trio production reached its highest level since 2016. Intrepid Potash’s adjusted EBITDA rose to $8.6 million, up from $7.1 million in the previous year, and its adjusted net loss improved to $1.4 million from a $5.2 million loss last year. Despite these operational achievements, the earnings miss contributed to investor concerns. Additionally, the company provided guidance for 2025, anticipating flat potash production and Trio production of 480,000 tons. Analysts are closely monitoring potential impacts from Canadian potash tariffs and the company’s cost reduction strategies.
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