Stokes Hubbell Capital Management adds Intrepid Potash (IPI) to its portfolio

Intrepid Potash (IPI) : Stokes Hubbell Capital Management added new position in Intrepid Potash during the most recent quarter end. The investment management firm now holds 75,000 shares of Intrepid Potash which is valued at $81,750 , the company said in a statement filed on Oct 7, 2016 with the SEC.Intrepid Potash makes up approximately 0.03% of Stokes Hubbell Capital Management’s portfolio.

Other Hedge Funds, Including , Simplex Trading boosted its stake in IPI in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 10,525 shares of Intrepid Potash which is valued at $11,472.Bnp Paribas Arbitrage Sa reduced its stake in IPI by selling 11,374 shares or 62.99% in the most recent quarter. The Hedge Fund company now holds 6,684 shares of IPI which is valued at $7,553.

Intrepid Potash closed down -0.03 points or -2.68% at $1.09 with 4,70,012 shares getting traded on Friday. Post opening the session at $1.1, the shares hit an intraday low of $1.08 and an intraday high of $1.14 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Intrepid Potash reported $-0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.15. The company had revenue of $51.80 million for the quarter, compared to analysts expectations of $49.52 million. The company’s revenue was down -29.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.08 EPS.

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 Company’s conventional production comes from its underground West and East mines near Carlsbad New Mexico which services the West and HB mines.

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