Intrepid Production Corp is Buying Intrepid Potash Inc. (NYSE:IPI) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Intrepid Potash Inc. (NYSE:IPI), reported that Intrepid Production Corp has picked up 18,034,122 of common stock as of 2017-03-23.

The acquisition brings the aggregate amount owned by Intrepid Production Corp to a total of 18,034,122 representing a 13.9% stake in the company.

For those not familiar with the company, Intrepid Potash, Inc. is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium containing products segment. Its products are potash and Trio. The Company also produces salt, magnesium chloride and metal recovery salts from its potash mining processes. It owns approximately three solution mining facilities and over two conventional underground facilities that are utilized for producing potash. Its solution mining production comes from the HB mine near Carlsbad, New Mexico, a solution mine near Moab, Utah, and a brine recovery mine in Wendover, Utah. The Company’s production comes from its underground West and East mines near Carlsbad, New Mexico.

A glance at Intrepid Potash Inc. (NYSE:IPI)’s key stats reveals a current market capitalization of 191.08 Million based on 79.28 Million shares outstanding and a price at last close of $1.65 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-03-21, Martin picked up 3,150,000 at a purchase price of $1.20. This brings their total holding to 3,233,709 as of the date of the filing.

On the sell side, the most recent transaction saw Considine unload 29,921 shares at a sale price of $1.29. This brings their total holding to 123,535.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Intrepid Potash Inc. (NYSE:IPI) as things move forward to see if its progress aligns with these transactions.

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