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DENVER—Robert P. Jornayvaz III, a significant shareholder in Intrepid Potash, Inc. (NYSE:IPI), sold 4,770 shares of the company’s common stock on February 27, according to a recent SEC filing. The shares were sold at a weighted average price of $26.34, resulting in a total transaction value of $125,641. The transaction occurred near the stock’s 52-week high of $29.75, with the company currently valued at approximately $295 million.
The sale was conducted through Intrepid Production Corporation, of which Mr. Jornayvaz is the sole shareholder. Following this transaction, he retains ownership of 1,207,453 shares indirectly through the corporation and 56,987 shares directly. The sale price per share ranged from $26.02 to $26.90. According to InvestingPro analysis, the company maintains a strong financial position with more cash than debt and a healthy current ratio of 4.84.
This transaction reflects Mr. Jornayvaz’s ongoing management of his investment in Intrepid Potash, a company engaged in the production and marketing of potash and other minerals. While the company faces near-term profitability challenges, InvestingPro data shows it maintains strong free cash flow yields. Subscribers can access 6 additional ProTips and a comprehensive analysis through the Pro Research Report, available for over 1,400 US stocks.
In other recent news, Intrepid Potash reported its financial results for the fourth quarter of 2024. The company posted an earnings per share (EPS) loss of $0.11, falling short of analysts’ expectations of a $0.10 EPS. However, Intrepid Potash surpassed revenue forecasts, generating $55.8 million compared to the anticipated $52.36 million. The company’s potash production increased by 50% year-over-year, and Trio production reached its highest level since 2016. Despite these production gains, the company faced a net loss and an EPS that missed expectations. Intrepid Potash’s adjusted EBITDA improved to $8.6 million from $7.1 million in the previous year, and its adjusted net loss decreased to $1.4 million from $5.2 million. Analysts from UBS discussed the potential impact of Canadian potash tariffs, which could influence market dynamics and pricing. CEO Kevin Crutchfield emphasized the company’s focus on sustaining production levels and strategic capital investments to drive future growth.
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