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Equities research analysts at RBC Capital increased their target price on shares of Intrepid Potash (NYSE:IPI) from $15.00 to $16.00 in a research note issued to investors on Friday. RBC Capital’s target price would suggest a potential upside of 5.89% from the company’s current price.

Shares of Intrepid Potash (NYSE:IPI) traded up 2.03% during mid-day trading on Friday, hitting $15.11. 1,096,184 shares of the company’s stock traded hands. Intrepid Potash has a 52-week low of $10.60 and a 52-week high of $17.64. The stock’s 50-day moving average is $15.71 and its 200-day moving average is $15.61. The company has a market cap of $1.141 billion and a price-to-earnings ratio of 871.18.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.01 by $0.06. The company had revenue of $110.90 million for the quarter, compared to the consensus estimate of $91.04 million. During the same quarter last year, the company posted $0.17 earnings per share. Intrepid Potash’s revenue was up 19.6% compared to the same quarter last year. Analysts expect that Intrepid Potash will post $0.09 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Agricole upgraded shares of Intrepid Potash from an “underperform” rating to an “outperform” rating in a research note on Friday. Separately, analysts at Scotiabank upgraded shares of Intrepid Potash from an “underperform” rating to a “sector perform” rating in a research note on Thursday. They now have a $13.50 price target on the stock, up previously from $12.00. Finally, analysts at Piper Jaffray initiated coverage on shares of Intrepid Potash in a research note on Tuesday, June 17th. They set an “overweight” rating and a $21.00 price target on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $15.14.

Intrepid Potash, Inc(NYSE:IPI) is a producer of muriate of potash (potassium chloride or potash) in the United States and are engaged the production and marketing of potash and langbeinite (sulfate of potash magnesia), another mineral containing potassium, magnesium, and sulfate, that is produced from langbeinite ore and as Trio when it refers to sales and marketing.

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