- Intrepid Potash (IPI) is the largest U.S. potash producer, valued at $440 million, with five production facilities in New Mexico and Utah.
- IPI has strong technical indicators including a 100% “buy” signal.
- Intrepid Potash is trading above all of its daily moving averages and is up nearly 70% over the past year.
Today’s Featured Stock:
Valued at only $440 million, Intrepid Potash (IPI) is the largest producer of potash in the U.S. and is dedicated to the production and marketing of potash and langbeinite, another mineral containing potassium. Intrepid owns five active potash production facilities, with three in New Mexico and two in Utah.
What I’m Watching:
I found today’s Chart of the Day by using Barchart’s powerful screening functions. I sorted for stocks with the highest technical buy signals, superior current momentum in both strength and direction, and a Trend Seeker “buy” signal. I then used Barchart’s Flipchart feature to review the charts for consistent price appreciation. IPI checks those boxes. Since the Trend Seeker signaled a “buy” on April 22, the stock has gained 10.5%.
On the chart, you can note that the stock is trading above all of its daily moving averages and has rising prices on steady volume.
IPI Price vs. Daily Moving Averages:
Barchart Technical Indicators for Intrepid:
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
When a stock is trading above all of its daily moving averages and closed within 0.24% of its 52-week high, it won’t take much to hit another new high.
- Intrepid has a 100% technical “buy” signal.
- The stock closed at $33.13 on April 24, within 0.24% of its 52-week high of $33.21.
- IPI has a Weighted Alpha of +73.40.
- The stock has gained 67.92% over the past year.
- Trend Seeker “buy” signal intact.
- IPI is trading above its 20, 50 and 100-day moving averages.
- The stock has made 2 new highs and is up 9.27% in the last month.
- The 14-day Relative Strength Index is at 69.86%.
- The technical support level is at $31.17
Follow the Fundamentals:
- Revenue is expected to grow 3.48% this year and another 2.03% next year.
- Earnings are estimated to increase 55.92% this year but decrease by 201.14% next year.
Analyst and Investor Sentiment on Intrepid:
I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it’s hard to make money swimming against the tide.
It looks like not only Wall Street analysts, but also many of the popular investing advisory services, are moderately bullish on this stock.
- Wall Street analysts tracked by Barchart issued two “Strong Sell” opinions on the stock with a price target of $19.
- Value Line gives the stock its average rating.
- CFRA’s MarketScope gives the stock a “Hold” rating.
- MorningStar thinks the stock is fairly valued.
- Of the 2,158 individual investors following the stock on Motley Fool 1,885 think the stock will beat the market while 273 think it won’t.
- 10,690 investors monitor the stock on Seeking Alpha, which rates the stock a “Buy.”
The Bottom Line:
Currently Intrepid has market momentum and support by both the market and individual investors, but it faces competition from bigger rivals like Nutrien (NTR) and Mosaic (MOS).
Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
