Potash Corp. of Saskatchewan (POT) Shares Up 10.6%
Potash Corp. of Saskatchewan (NYSE:POT) shares shot up 10.6% during mid-day trading on Tuesday . The company traded as high as $18.42 and last traded at $17.75, with a volume of 29,055,015 shares changing hands. The stock had previously closed at $16.05.
A number of brokerages recently issued reports on POT. Stifel Nicolaus downgraded Potash Corp. of Saskatchewan from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Vetr raised Potash Corp. of Saskatchewan from a “sell” rating to a “hold” rating and set a $16.08 price objective on the stock in a research report on Monday, May 30th. Sanford C. Bernstein set a $19.00 price objective on Potash Corp. of Saskatchewan and gave the company a “buy” rating in a research report on Tuesday. BMO Capital Markets reaffirmed a “market perform” rating on shares of Potash Corp. of Saskatchewan in a research report on Monday, August 1st. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $19.00 price objective on shares of Potash Corp. of Saskatchewan in a research report on Thursday, June 16th. Eight research analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.99.
The company has a market capitalization of $14.93 billion and a PE ratio of 21.96. The company has a 50 day moving average of $16.47 and a 200-day moving average of $16.84.
Potash Corp. of Saskatchewan (NYSE:POT) last issued its quarterly earnings data on Thursday, July 28th. The fertilizer maker reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.18 billion. The business’s quarterly revenue was down 39.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. Equities research analysts anticipate that Potash Corp. of Saskatchewan will post $0.53 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Potash Corp. of Saskatchewan stock. Ameriprise Financial Inc. boosted its stake in shares of Potash Corp. of Saskatchewan (NYSE:POT) by 95.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,125 shares of the fertilizer maker’s stock after buying an additional 58,739 shares during the period. Ameriprise Financial Inc.’s holdings in Potash Corp. of Saskatchewan were worth $2,042,000 as of its most recent SEC filing.
Potash Corporation of Saskatchewan Inc is a fertilizer producer producing various primary crop nutrients, such as potash, nitrogen and phosphate. The Company operates through three segments: potash, nitrogen and phosphate. It owns and operates approximately five potash operations in Saskatchewan and one in New Brunswick.
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