Intrepid Potash’s Robert Jornayvaz sells shares price $11 million

These transactions have diminished Jornayvaz’s stake within the firm, leaving him with 129,230 shares following the ultimate sale on December 16. The gross sales had been carried out not directly via Intrepid Manufacturing Company, the place Jornayvaz is the only real stockholder. For deeper insights into insider buying and selling patterns and complete evaluation, try the total analysis report accessible on InvestingPro. For deeper insights into insider buying and selling patterns and complete evaluation, try the total analysis report accessible on InvestingPro.

The biggest sale came about on December 11, when Jornayvaz bought 192,573 shares at a median value of $25.08, totaling over $4.8 million. One other vital transaction occurred on November 21, with the sale of 159,513 shares at $25.12 per share, amounting to roughly $4 million. InvestingPro evaluation signifies the inventory is at the moment in oversold territory, with a powerful free money move yield.

These transactions have diminished Jornayvaz’s stake within the firm, leaving him with 129,230 shares following the ultimate sale on December 16. The gross sales had been carried out not directly via Intrepid Manufacturing Company, the place Jornayvaz is the only real stockholder.

In different current information, Intrepid Potash (NYSE:IPI) reported sturdy Q3 outcomes, with a big rise in adjusted EBITDA and profitable completion of strategic tasks. The corporate’s adjusted EBITDA for Q3 2024 stood at $10 million, a $7.8 million enchancment from Q3 2023, largely as a result of enhanced potash manufacturing. The corporate additionally accomplished Section 2 of the HB injection pipeline, a growth anticipated to spice up future manufacturing charges.

Intrepid Potash’s potash manufacturing reached 178,000 tons for the primary 9 months, with projections of 280,000 to 290,000 tons for the total 12 months. The corporate additionally reported a 14% year-over-year drop in potash section price of products bought per ton, contributing to margin enchancment.

In different developments, Intrepid Potash is advancing talks on a long-term lithium undertaking and began allowing for a check effectively on the AMAX cavern. The corporate can also be within the course of of choosing a brand new CEO following the departure of co-founder Bob Jornayvaz. These are only a few of the current developments at Intrepid Potash.

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