Intrepid Potash (NYSE: IPI) was downgraded by equities research analysts at Goldman Sachs (NYSE: GS) from a “neutral” rating to a “sell” rating in a research note issued to investors on Tuesday.
Separately, analysts at Credit Suisse (NYSE: CS) cut their EPS estimates on shares of Intrepid Potash in a research note on Monday. They now have a “neutral” rating and a $26.00 price target on the stock. Analysts at CLSA upgraded shares of Intrepid Potash from an “outperform” rating to a “buy” rating in a research note to investors on Thursday, January 19th.
Intrepid Potash, Inc. is a domestic producer of muriate of potash. It is also engaged in the production and marketing of potash and langbeinite. The Company markets the langbeinite under the name of Trio. As of December 31, 2009, the Company owned five active potash production facilities, including three in New Mexico and two in Utah. During 2009, the Company produced approximately 504,000 tons of potash. The Company’s subsidiaries include Intrepid Potash-Moab, LLC (Moab), Intrepid Potash-New Mexico, LLC (NM), Intrepid Potash-Wendover, LLC (Wendover), Moab Pipeline LLC, and Intrepid Aviation LLC.
Shares of Intrepid Potash traded down 6.74% during mid-day trading on Tuesday, hitting $23.53. Intrepid Potash has a 52 week low of $20.75 and a 52 week high of $40.22. The stock’s 50-day moving average is $23.51 and its 200-day moving average is $27.34. The company has a market cap of $1.770 billion and a P/E ratio of 18.55.