Potash Corporation of Saskatchewan Inc. (NYSE:POT) Position Cut by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management reduced its position in Potash Corporation of Saskatchewan Inc. (NYSE:POT) (TSE:POT) by 9.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,546 shares of the fertilizer maker’s stock after selling 4,670 shares during the period. Hanson & Doremus Investment Management’s holdings in Potash Corporation of Saskatchewan were worth $693,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in POT. First Eagle Investment Management LLC raised its position in Potash Corporation of Saskatchewan by 21.9% in the first quarter. First Eagle Investment Management LLC now owns 40,768,071 shares of the fertilizer maker’s stock worth $696,319,000 after buying an additional 7,315,190 shares during the period. FMR LLC raised its position in Potash Corporation of Saskatchewan by 5.0% in the first quarter. FMR LLC now owns 26,859,993 shares of the fertilizer maker’s stock worth $458,893,000 after buying an additional 1,278,861 shares during the period. Jarislowsky Fraser Ltd raised its position in Potash Corporation of Saskatchewan by 1.4% in the second quarter. Jarislowsky Fraser Ltd now owns 18,945,804 shares of the fertilizer maker’s stock worth $308,542,000 after buying an additional 254,401 shares during the period. Bank of Montreal Can raised its position in Potash Corporation of Saskatchewan by 17.3% in the first quarter. Bank of Montreal Can now owns 18,836,468 shares of the fertilizer maker’s stock worth $321,727,000 after buying an additional 2,774,033 shares during the period. Finally, Vanguard Group Inc. raised its position in Potash Corporation of Saskatchewan by 2.1% in the first quarter. Vanguard Group Inc. now owns 18,774,536 shares of the fertilizer maker’s stock worth $320,669,000 after buying an additional 388,656 shares during the period. 60.42% of the stock is owned by hedge funds and other institutional investors.

Shares of Potash Corporation of Saskatchewan Inc. (NYSE:POT) opened at 17.23 on Friday. The stock has a market capitalization of $14.47 billion, a P/E ratio of 30.33 and a beta of 0.46. The firm’s 50-day moving average price is $17.48 and its 200-day moving average price is $17.17. Potash Corporation of Saskatchewan Inc. has a 12 month low of $15.72 and a 12 month high of $20.26.

Potash Corporation of Saskatchewan (NYSE:POT) (TSE:POT) last announced its earnings results on Thursday, July 27th. The fertilizer maker reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $982.05 million. Potash Corporation of Saskatchewan had a net margin of 11.07% and a return on equity of 5.19%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. On average, equities research analysts forecast that Potash Corporation of Saskatchewan Inc. will post $0.63 EPS for the current year.

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A number of equities analysts have recently weighed in on POT shares. Scotiabank reaffirmed a “sector perform” rating and issued a $20.00 price objective on shares of Potash Corporation of Saskatchewan in a research note on Friday, April 28th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Potash Corporation of Saskatchewan in a research note on Tuesday, June 20th. Zacks Investment Research lowered Potash Corporation of Saskatchewan from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $19.00 price objective (down previously from $20.00) on shares of Potash Corporation of Saskatchewan in a research note on Monday, July 10th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Potash Corporation of Saskatchewan in a research note on Sunday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.18.

Potash Corporation of Saskatchewan Company Profile

Potash Corporation of Saskatchewan Inc (PCS) is a fertilizer producer producing a range of primary crop nutrients, such as potash, nitrogen and phosphate. The Company operates through three segments: potash, nitrogen and phosphate. As of December 31, 2016, it owned and operated five potash operations in Saskatchewan and owned one in New Brunswick.

Institutional Ownership by Quarter for Potash Corporation of Saskatchewan (NYSE:POT)

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