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News Breaks
January 17, 2013
16:34 EDTIPIIntrepid Potash sees FY12 potash production 790,000-800,000 tons
News For IPI From The Last 14 Days
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October 6, 2015
10:20 EDTIPIHeartland Advisors lowers passive stake in Intrepid Potash to 4.8% from 7.3%
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October 2, 2015
07:04 EDTIPIIntrepid Potash price target lowered to $5 from $9 at Piper Jaffray
Piper Jaffray analyst Brett Wong is "increasingly more cautious" on the potash space after traveling with the management of Intrepid Potash. Pricing trends are trending downward and profitability is in question for FY16, Wong tells investors in a research note. He cut his price target for Intrepid shares to $5 and keeps a Neutral rating on the name.
September 22, 2015
11:41 EDTIPIFertilizer shares slide after Mosaic announces production cuts
Shares of fertilizer companies Potash (POT), Agrium (AGU) and Intrepid Potash (IPI) are sliding after peer Mosaic Company (MOS) announced it will reduce its potash production. WHAT'S NEW: Mosaic said in a press release yesterday that it will reduce its potash production in response to current crop nutrient market conditions, primarily related to delayed fertilizer purchases in Brazil and North America. The company added that since it announced guidance in August, domestic and international crop nutrient markets have softened. Currency volatility, lower grain and oilseed prices, political and economic uncertainty, as well as global equity market declines have adversely impacted market sentiment, according to Mosaic. Joc O'Rourke, Mosaic's chief executive officer, pointed out that the long-term positive outlook for crop nutrient demand is still intact, "but the industry faces some near-term challenges in the current environment." O'Rourke said the company will remain focused on looking for opportunities to create shareholder value which includes managing production levels to demand and controlling costs. WHAT'S NOTABLE: Mosaic noted that the reduced production is expected to impact per unit costs and segment margins. The company now sees third quarter phosphate volumes at the low end of the previously communicated range of 2.1M-2.4M tons, while the average DAP selling price is expected to be in the upper half of the company's previously provided range of $435-$455 per ton. The phosphates segment margin rate is expected to be in the low 20% range as previously guided, Mosaic said. Potash volumes are expected to be in the bottom half of the previously announced 1.6M-$2M ton range and the MOP average selling price is expected to be in the bottom half of the $260-$280 per ton range. As a result of these developments and lower operating rates, Mosaic now expects the potash segment gross margin rate to be in the high teens, compared to prior guidance of the low 20% range. ANALYST TAKE: In a note to investors this morning, Canaccord said it continues to prefer Agrium in the fertilizer space, citing its retail operations, its nitrogen sales to North America, volume growth in the wholesale business, free cash flow and valuation. Canaccord reiterated its Buy rating on Agrium, but lowered its price target to $112 from $115. PRICE ACTION: Shares of Mosaic fell 7.16% to $33.83 in late morning trading. Industry peers are also lower, with Agrium down 5.34%, Potash dropping 7% and Intrepid Potash falling 5.39%.

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