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DENVER—Robert P. Jornayvaz III, a significant shareholder of Intrepid Potash, Inc. (NYSE:IPI), recently sold a portion of his holdings in the company. According to a recent SEC filing, Jornayvaz disposed of 17 shares of common stock at a price of $30 per share, resulting in a total transaction value of $510. The sale comes as the stock has experienced a 12% decline over the past week, with shares currently trading at $25.30. InvestingPro analysis shows the stock's price movements have been notably volatile recently.
Following this transaction, Jornayvaz holds 1,104,246 shares indirectly through Intrepid Production Corporation, where he is the sole shareholder. This sale reflects a minor adjustment in his overall stake in the company. Intrepid Potash, headquartered in Denver, is known for its operations in the mining and quarrying of nonmetallic minerals. The company maintains a strong financial position with more cash than debt on its balance sheet and a healthy current ratio of 4.84, according to InvestingPro data, which offers comprehensive insider trading analysis among its 10+ exclusive insights for this stock.
In other recent news, Intrepid Potash reported a mixed financial performance for the fourth quarter of 2024. The company posted a loss of $0.11 per share, missing the analysts' forecast of a $0.10 profit per share. However, Intrepid Potash surpassed revenue expectations, generating $55.8 million against the projected $52.36 million. The company's potash production showed significant growth, increasing by 50% year-over-year, while Trio production reached its highest level since 2016. Notably, the firm's adjusted EBITDA improved to $8.6 million, up from $7.1 million in the previous year, and the adjusted net loss narrowed to $1.4 million from $5.2 million last year. Despite these operational gains, the earnings miss has drawn attention, with analysts focusing on the company's strategic plans and cost improvement efforts. Intrepid Potash has also provided guidance for the first quarter of 2025, forecasting potash sales between 95,000 to 105,000 tons at prices of $305 to $315 per ton. Looking ahead, the company aims to sustain its production momentum through strategic capital investments, as highlighted by CEO Kevin Crutchfield.
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