Potash, Mosaic investors should switch to Agrium, says Canaccord Canaccord noted that both Potash (POT) and Mosaic (MOS) missed Q1 estimates and gave what the firm views as soft forward guidance. The firm sees U.S. shipments of potash and phosphates this spring lower than expected and sees international volumes heading into a mild oversupply situation. Canaccord suggests Potash and Moasic investors switch into Agrium (AGU), given its exposure to nitrogen and retail segments. Canaccord maintains its Buy rating and lowered its price target to $125 from $128 on Agrium, while maintaining its Hold rating on both Potash and Mosaic shares.
Agrium to divest West Sacramento site Agrium announced that it intends to divest the West Sacramento product upgrade facility and site in 2015. The site has access to tidewater and imports the raw materials to produce UAN solutions for the California market. Over the past two years, the site has produced on average about 200,000 tonnes of nitrogen solution products. The decision to divest the site was made as part of Agrium's portfolio review and any impact on financials are expected to be negligible.