Intrepid Potash believes consensus estimates are too high, says Susquehanna Susquehanna lowered its price target on Intrepid Potash following Q4 results. The company sees no first half price momentum in potash prices and believes consensus estimates are too high for 2013. Susquehanna lowered its estimates and price target lowered to $21 from $26. Shares are Neutral rated.
Intrepid Potash sees 2015 potash sales 830K-870K tons The company said, "Potash sales volume this year is expected to approximate production volume as Intrepid entered 2015 with low inventory levels after the record sales volumes in 2014. The 2015 production and cost outlooks are similar to 2014 levels as a result of reduced solar production from the Wendover facility due to abnormally high precipitation during 2014 that supported below average evaporation rates. Per ton cash operating costs and cost of goods sold for potash are expected to improve in the second half of 2015. This trend incorporates the positive production mix shift to more low cost solar solution tons in the second half of this year including the continued ramp-up of the HB mine. The HB mine remains on track to achieve full production levels in 2016."