Robert P. Jornayvaz III, a significant shareholder of Intrepid Potash, Inc. (NYSE:IPI), recently sold a substantial number of shares in the company. According to a recent SEC filing, Jornayvaz sold a total of 73,517 shares over two transactions, generating proceeds of approximately $2,006,969. The timing of these sales coincides with the stock’s strong performance, as InvestingPro data shows IPI has gained nearly 13% in the past week and is trading close to its 52-week high of $29.75.
The sales occurred on March 14 and March 17, with shares sold at a weighted average price range of $26.54 to $28.68. These transactions were carried out by Intrepid Production Corporation, of which Jornayvaz is the sole shareholder. Following these sales, Jornayvaz retains ownership of 1,138,706 shares indirectly through Intrepid Production Corporation.
This activity is part of routine portfolio management and reflects Jornayvaz’s ongoing involvement with Intrepid Potash, a company engaged in the mining and production of potash and other minerals. The company maintains a strong financial position with a current ratio of 4.84 and minimal debt, holding more cash than debt on its balance sheet. Get more insights and access to detailed financial analysis with InvestingPro, which offers 12 additional investment tips for IPI.
In other recent news, Intrepid Potash reported its fourth-quarter 2024 financial results, revealing a mixed performance. The company recorded a loss of $0.11 per share, missing the anticipated earnings per share (EPS) of $0.10. However, revenue exceeded expectations, reaching $55.8 million compared to the forecasted $52.36 million. Intrepid Potash’s production showed significant growth, with potash output increasing by 50% year-over-year and Trio production reaching its highest level since 2016. The company also reported an adjusted EBITDA of $8.6 million, up from $7.1 million the previous year, and an improved adjusted net loss of $1.4 million, compared to a $5.2 million loss last year. Looking ahead, Intrepid Potash provided guidance for the first quarter of 2025, forecasting potash sales between 95,000 to 105,000 tons and Trio sales between 100,000 to 110,000 tons. Additionally, the company expects Trio production for the full year 2025 to reach 480,000 tons. Analysts did not report any upgrades or downgrades for Intrepid Potash following these announcements.
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