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Potash Corporation of Saskatchewan Inc. (POT)

- NYSE
  • Nov. 14, 2013, 10:28 AM
    • Markel's (MKL) Tom Gayner added five new stocks to the company portfolio in the last quarter, and he likes fertilizers and private equity, buying 150K shares of Mosaic (MOS) and 70K shares of Potash (POT), 100K shares of Apollo Global (APO), 105K shares of Apollo Group (APOL), and 10K shares of Copart (CPRT). In addition to the Apollo Global purchase, he greatly boosted stakes in KKR, Blackstone (BX), and Carlyle Group (CG).
    • He completely sold out of positions in Quaterra Resources (QMM) and Union First Market Bankshares (UBSH).
    • CarMax (KMX) remains his portfolio's top holding at 8.4%, but Gayner did cut his stake by 1.46%.
    | Comment!
  • Nov. 13, 2013, 5:27 PM
    • Potash Corporation of Saskatchewan Inc. (POT) declares $0.35/share quarterly dividend, in line with previous.
    • Forward yield 4.31%
    • Payable Feb. 6; for shareholders of record Jan 16; ex-div Jan 14.
    | Comment!
  • Nov. 4, 2013, 3:22 PM
    • Potash producers have been reeling, but HSBC thinks the worst of the crisis has passed and prices may rise in the medium term, prompting the firm to upgrade Potash (POT +4.3%), Agrium (AGU +3.9%) and SQM (SQM +5.1%).
    • POT is raised to Neutral from Underweight with a $31 price target, up from $22.50, while AGU to lifted to Overweight from Neutral and a $105 target from $95; Mosaic (MOS +1.2%) is reiterated at Underweight but with a higher target, to $40 from $33.
    • The eventual return of Indian demand means phosphates have the clearest road to recovery of the crop nutrients, the firm believes.
    | 5 Comments
  • Oct. 24, 2013, 3:49 PM
    • In its earnings call, Potash (POT -2.1%) cut its forecast for 2013 world potash shipments to 53M-54M metric ton, down from its previous estimate of nearly 56M metric tons but higher than 2012's 51M; it sees global demand of 55M-58M in 2014.
    • A supply contract between the Canpotex group of North American potash producers and China's Sinofert Holdings likely will be signed in early 2014, according to CEO Bill Doyle.
    • Also, POT does not expect to dip into the debt markets to maintain its dividend program. (Q3 earnings)
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  • Oct. 24, 2013, 7:58 AM
    • Potash (POT) -1.3% premarket after reporting a 45% Y/Y drop in Q3 earnings as plunging nutrient prices, poor sales volumes and general market uncertainty took a huge toll.
    • Q3 average realized potash price was $307/metric ton vs. $429 in the year-ago quarter; Uralkali warned that prices could fall to $300 when it broke off its partnership with Belaruskali, and it appears that has already happened.
    • Gross profit on potash fell to $228M in Q3 from $554M; sales volumes fell by nearly 500K metric tons.
    • The bad news is not limited to potash, as nitrogen gross profit fell to $178M from $251M a year ago, sales volume rose slightly but the realized price fell to $327/metric ton from $458 a year ago.
    • Phosphate sales volume fell only slightly, but net sales totaled $432M vs. $513M a year ago, and the realized price fell to $467 from $537/metric ton.
    • Cut full-year EPS guidance to $2.00-$2.20 from $2.45-$2.70, below $2.25 analyst consensus.
    | 6 Comments
  • Oct. 24, 2013, 6:02 AM
    • Potash (POT): Q3 EPS of $0.41 in-line.
    • Revenue of $1.52B misses by $0.01B. (PR)
    | Comment!
  • Oct. 22, 2013, 11:22 AM
    • Uralkali (URALL) has been ramping up its potash production significantly as part of its new strategy, independent director Paul Ostling says; the company has said it plans to produce 10.5M tons for the year, up 15% from 2012.
    • While some reports suggest the partnership could be revived, Ostling says it would be difficult to "put Humpty Dumpty back together again" because of deep animosity on both sides, but that it wouldn't be impossible if the right agreements were reached.
    • POT -0.9%, MOS +0.1%, AGU +0.6%, IPI +0.5%, CF -0.1%.
    • ETFs: MOO, CROP, PAGG, VEGI.
    | 1 Comment
  • Oct. 16, 2013, 5:59 PM
    • SQM, Chilean potash producer and exporter of iodine and lithium, has sunk to nearly its cheapest valuation in five years, which analysts say allows Potash (POT), which already owns 32% of the company, its best chance in years of fully taking over.
    • Julio Ponce, also a 32% owner, fended off POT’s 2006 attempt to wrest control of SQM but may become a more willing seller as a stock rout, a trading investigation and further turmoil in the potash industry pressure his finances.
    • While POT’s own stock has dropped, purchasing SQM would allow it to fulfill its strategy of taking control of companies in which it holds stakes.
    | Comment!
  • Oct. 14, 2013, 2:14 PM
    • Russian authorities say they opened a criminal case against the jailed chief executive of potash producer Uralkali (URALL.PK) and are seeking his extradition from Belarus to face charges in Russia, in what could be a face-saving move to defuse the potash rift.
    • Russia's main investigative agency says its review of the case indicates enough evidence to charge the Uralkali chief in Russia, though political analysts doubt he would serve any prison time even if convicted.
    • POT +0.8%, MOS -0.1%, AGU +0.7%, IPI -1.2%, CF +0.6%.
    • ETFs: MOO, CROP, PAGG, VEGI.
    | Comment!
  • Oct. 11, 2013, 2:22 PM
    • Potash's (POT -1.5%) downside Q3 guidance shouldn't come as a surprise, particularly after Agrium cut its forecast earlier this week as CEO Mike Wilson said "the soap opera in Russia" was weighing on potash prices.
    • The revision reflects "acute market uncertainty" battering global potash markets, Raymond James analyst Steve Hansen says; with potash prices moving sharply lower across most importing regions, “buyers seem intent on deferring purchases with the hope of securing lower prices and improved macro visibility in the future.”
    • But analysts say competition among suppliers is intensifying amid negotiations with the Chinese who are among the top potash buyers, pointing to a further fall in prices.
    • Also, MOS -2.1%, AGU +1%, IPI -0.2%, CF -1%, SQM -2.1%.
    | 1 Comment
  • Oct. 10, 2013, 7:24 PM
    • Potash (POT) expects to report Q3 EPS of $0.41, below prior guidance of $0.45-$0.60 and a $0.47 consensus. (PR)
    • The company says the shortfall is primarily due to "lower than forecasted potash sales volumes late in the quarter as buyers continued to defer significant purchases amidst near-term market uncertainty." Full Q3 results arrive on Oct. 24.
    | 4 Comments
  • Oct. 8, 2013, 3:36 PM
    • The Russian potash "soap opera" could weigh on prices until demand rises substantially or producers shut some capacity, Agrium (AGU -3.7%) CEO Mike Wilson says at the fertilizer company's investor day.
    • The structure of the potash market has to go back to where it was before Russia's Uralkali quit its export partnership with Belaruskali, and some producers need to shut capacity, or demand has to soar above 60M metric tons, Wilson says; otherwise, prices will remain under pressure.
    • POT -1.1%, MOS -0.3%, CF -2.5%, IPI -3.4%.
    • ETFs: MOO, CROP, PAGG, VEGI.
    | 1 Comment
  • Oct. 7, 2013, 6:13 PM
    • Mosaic (MOS) lowers its outlook for 2013 global potash shipments, citing weaker demand in India and a delay in settling a second-half contract between its export agency Canpotex and China's Sinofert Holdings.
    • CFO Larry Stranghoener says he sees global potash shipments of 54M-55M metric ton, down from its previous estimate of 55M-57M metric tons but higher than 2012's 51M; by 2014, global shipments should rebound to 57M-59M.
    • MOS, Potash (POT) and Agrium (AGU) sell potash to offshore markets through the Canpotex export consortium.
    • ETFs: MOO, CROP, PAGG, VEGI.
    | 2 Comments
  • Oct. 3, 2013, 9:47 AM
    • Global potash prices will stay above $300/metric ton but likely will fall further this year, bottoming out in early 2014 when supply contracts for top global consumer China are set, and rebounding thereafter, according to Uralkali's (URALL.PK) head of sales.
    • He gives no current average price, but says the domestic price in China of ~$330/metric ton delivered at the border was a "guideline" for the company's rail supplies.
    • Recent reports have said a large stake in Uralkali could be sold to one of several local bidders, but sources tell Reuters that no buyers are close to a deal now.
    • POT +0.5%; MOS +0.1%; AGU, which named a new CEO, +1.2%; IPI -0.4%.
    • ETFs: MOO, CROP, PAGG, VEGI.
    | Comment!
  • Oct. 2, 2013, 2:02 PM
    • Agriculture and potash names are moving higher following a WSJ story suggesting a large stake in Russian potash giants Uralkali (URALL.PK +3.3%) likely will be sold to one of several local investors bidding for the company.
    • Sources say the Kremlin is eager to repair the rift with Belarus that led to the collapse of the informal global potash cartel and has made clear to potential bidders that some kind of sales cooperation with the country - a close Russian ally - should be restored after any deal.
    • POT +3%, MOS +3.6%, AGU +2.2%, IPI +3.4%.
    • ETFs: MOO, CROP, PAGG, VEGI.
    | 5 Comments
  • Sep. 30, 2013, 3:29 PM
    • Indian Potash says it has renegotiated an annual contract for the import of ~1M metric tons of potash at a 12%-plus discount following the breakup of a global fertilizer grouping led by Russia's Uralkali (URALL.PK), which says it is now pursuing a volume-over-price strategy.
    • Indian potash importers, who form the second biggest buyer group after China, sought discounts on their current contracts following the breakup and said the slide in the rupee vs. the dollar since May had made imports more expensive for them.
    • POT -1.1%, MOS -1%, AGU -1.3%, IPI -0.6%.
    • ETFs: MOO, CROP, PAGG, VEGI.
    | 2 Comments
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Company Description
Potash Corp of Saskatchewan Inc is an integrated fertilizer and related industrial and feed products company. It owns and operates five potash mines in Saskatchewan and one in New Brunswick.
Country: Canada