Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 0.85MM shares of Intrepid Potash Inc (IPI). This represents 6.3% of the company.
In their previous filing dated February 3, 2022 they reported 0.97MM shares and 7.20% of the company, a decrease in shares of 12.49% and a decrease in total ownership of 0.90% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 7.52% Upside
As of February 1, 2023, the average one-year price target for Intrepid Potash is $35.19. The forecasts range from a low of $29.29 to a high of $42.00. The average price target represents an increase of 7.52% from its latest reported closing price of $32.73.
The projected annual revenue for Intrepid Potash is $317MM, an increase of 6.38%. The projected annual EPS is $4.83, a decrease of 78.17%.
Fund Sentiment
There are 339 funds or institutions reporting positions in Intrepid Potash. This is a decrease of 7 owner(s) or 2.02%.
Average portfolio weight of all funds dedicated to US:IPI is 0.0649%, a decrease of 3.7403%. Total shares owned by institutions decreased in the last three months by 7.79% to 9,124K shares.
What are large shareholders doing?
SMCWX - SMALLCAP WORLD FUND INC holds 634,276 shares representing 4.85% ownership of the company. In it's prior filing, the firm reported owning 406,500 shares, representing an increase of 35.91%. The firm increased its portfolio allocation in IPI by 5.85% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 295,437 shares representing 2.26% ownership of the company. In it's prior filing, the firm reported owning 279,037 shares, representing an increase of 5.55%. The firm decreased its portfolio allocation in IPI by 3.57% over the last quarter.
IWM - iShares Russell 2000 ETF holds 244,396 shares representing 1.87% ownership of the company. In it's prior filing, the firm reported owning 246,328 shares, representing a decrease of 0.79%. The firm decreased its portfolio allocation in IPI by 6.12% over the last quarter.
Acadian Asset Management holds 234,720 shares representing 1.80% ownership of the company. In it's prior filing, the firm reported owning 215,905 shares, representing an increase of 8.02%. The firm increased its portfolio allocation in IPI by 1.58% over the last quarter.
FSLCX - Fidelity Small Cap Stock Fund holds 229,666 shares representing 1.76% ownership of the company. In it's prior filing, the firm reported owning 143,835 shares, representing an increase of 37.37%. The firm increased its portfolio allocation in IPI by 61.94% over the last quarter.
Intrepid Potash Background Information
(This description is provided by the company.)
Intrepid is a diversified mineral company that delivers potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed, and the oil and gas industry. Intrepid is the only U.S. producer of muriate of potash, which is applied as an essential nutrient for healthy crop development, utilized in several industrial applications, and used as an ingredient in animal feed. In addition, Intrepid produces a specialty fertilizer, Trio®, which delivers three key nutrients, potassium, magnesium, and sulfate, in a single particle. Intrepid also provides water, magnesium chloride, brine, and various oilfield products and services. Intrepid serves diverse customers in markets where a logistical advantage exists and is a leader in the use of solar evaporation for potash production, resulting in lower cost and more environmentally friendly production. Intrepid's mineral production comes from three solar solution potash facilities and one conventional underground Trio® mine.
This story originally appeared on Fintel.
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