Recent

% | $
Quotes you view appear here for quick access.

Renren Inc. Message Board

brooksal93 1 post  |  Last Activity: May 12, 2016 9:54 AM Member since: Jul 19, 2009
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • This Struggling Potash Producer’s CEO Buys Massive Block of Shares

    Intrepid Potash Inc. (NYSE:IPI)’s Executive Chairman, President, and Chief Executive Officer, Robert P. Jornayvaz III, filed Wednesday to disclose the purchase of 338,761 shares of the company he leads, at prices that ranged from $1.14 to $1.40 per share. The freshly-acquired block of shares is held by Intrepid Production Corporation, of which Mr. Jornayvaz is the sole stockholder, sole director, and President. The CEO currently holds a direct ownership stake of 109,863 shares, as well as an indirect ownership stake of 11.69 million shares held by Intrepid Production Corporation.

    The only U.S producer of muriate of potash has seen its market value plummet by a massive 89% over the past 12 months, as oversupply and foreign competition in the U.S potash market has put significant pressure on prices. Intrepid Potash Inc. (NYSE:IPI)’s average net realized potash sales price decreased to $216 per ton in the first quarter of this year, a significant dip from the $362 per ton which that figure stood at for the first quarter of 2015. Earlier this month, the company announced plans to idle operations at its West mine, a conventional mining facility in New Mexico that generated 42% of the company’s potash production in 2015. Royce & Associates, founded by Chuck Royce, cut its stake in Intrepid Potash Inc. (NYSE:IPI) by 13% during the March quarter, to 1.29 million shares.

    Intrepid Potash Inc. (NYSE:IPI)’s Executive Chairman, President, and Chief Executive Officer, Robert P. Jornayvaz III, filed Wednesday to disclose the purchase of 338,761 shares of the company he leads, at prices that ranged from $1.14 to $1.40 per share. The freshly-acquired block of shares is held by Intrepid Production Corporation, of which Mr. Jornayvaz is the sole stockholder, sole director, and President. The CEO currently holds a direct ownership stake of 109,863 shares, as well as an indirect ownership stake of 11.69 million share

RENN
1.63-0.08(-4.68%)Jul 29 4:02 PMEDT