Potash Corp. of Saskatchewan (POT) Sees Large Volume Increase
Potash Corp. of Saskatchewan (NYSE:POT) saw unusually-high trading volume on Wednesday . Approximately 11,028,216 shares traded hands during mid-day trading, an increase of 21% from the previous session’s volume of 9,084,197 shares.The stock last traded at $17.93 and had previously closed at $17.79.
POT has been the subject of a number of research analyst reports. Vetr raised shares of Potash Corp. of Saskatchewan from a “buy” rating to a “strong-buy” rating and set a $19.64 target price for the company in a report on Tuesday, July 12th. Sanford C. Bernstein set a $19.00 target price on shares of Potash Corp. of Saskatchewan and gave the company a “buy” rating in a report on Tuesday. Citigroup Inc. dropped their target price on shares of Potash Corp. of Saskatchewan from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, July 7th. Edward Jones raised shares of Potash Corp. of Saskatchewan from a “hold” rating to a “buy” rating in a report on Friday, August 19th. Finally, Barclays PLC reaffirmed an “underweight” rating and issued a $14.00 target price on shares of Potash Corp. of Saskatchewan in a report on Saturday, June 25th. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. Potash Corp. of Saskatchewan presently has a consensus rating of “Hold” and an average price target of $17.79.
The company’s 50-day moving average is $16.57 and its 200-day moving average is $16.87. The firm has a market capitalization of $15.19 billion and a price-to-earnings ratio of 22.35.
Potash Corp. of Saskatchewan (NYSE:POT) last announced its quarterly earnings data on Thursday, July 28th. The fertilizer maker reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. During the same quarter in the previous year, the firm posted $0.50 EPS. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.18 billion. The firm’s quarterly revenue was down 39.2% compared to the same quarter last year. On average, equities research analysts anticipate that Potash Corp. of Saskatchewan will post $0.52 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Potash Corp. of Saskatchewan stock. Ameriprise Financial Inc. increased its position 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 SEC. 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 at the end of the most recent reporting period.
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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