Intrepid Potash Inc (IPI) : Traders are bullish on Intrepid Potash Inc (IPI) as it has outperformed the S&P 500 by a wide margin of 1.92% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.34%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.31% in the last 1 week, and is up 2.31% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Intrepid Potash, Inc. is up 3.91% in the last 3-month period. Year-to-Date the stock performance stands at -54.92%. The stock has recorded a 20-day Moving Average of 0.45% and the 50-Day Moving Average is 4.7%.
Intrepid Potash Inc (NYSE:IPI): The stock opened at $1.34 on Friday but the bulls could not build on the opening and the stock topped out at $1.36 for the day. The stock traded down to $1.33 during the day, due to lack of any buying support eventually closed down at $1.33 with a loss of -2.21% for the day. The stock had closed at $1.36 on the previous day. The total traded volume was 502,381 shares.
Also, Equity Analysts at the Brokerage Firm, CLSA, upgrades their rating on the shares of Intrepid Potash Inc (NYSE:IPI). CLSA has a Outperform rating on the shares. Previously, the analysts had a Underperform rating on the shares. The rating by the firm was issued on May 10, 2016.
Intrepid Potash, Inc. is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States. The Company sells potash and Trio into the agricultural market as a fertilizer. The Company also sells produce salt, magnesium chloride and metal recovery salts from its potash mining processes. The Company owns three solution mining facilities and two conventional underground facilities that are utilized for producing potash. Its solution mining production comes from the HB solar solution mine near Carlsbad, New Mexico, a solar solution mine near Moab, Utah and a solar evaporation shallow brine mine in Wendover, Utah. The Companys conventional production comes from its underground West and East mines near Carlsbad, New Mexico, which services the West and HB mines.