Intrepid Potash: Cowen views mine suspension as negative for IPI shares and slightly positive for potash producing peers AGU, POT and MOS
Cowen notes that yesterday, after the close, IPI announced it received an imminent danger order which required the company's West Mine in New Mexico to shut down. The firm notes that this is IPI's largest mine and represents over 40% of production capacity. The firm is not surprised by maintenance issues given the age of IPI's mine operations and view the news as negative for IPI shares and slightly positive for potash producing peers AGU, POT and MOS.
--> No pre market indications for IPI for now