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Stock Market & Financial Investment News

News Breaks
February 26, 2013
15:21 EDTPOTPotash says "strong consumption trends masked by destocking" in FY12
In a slides presentation from the company presentation at the BMO Global Metals and Mining Conference, Potash Corp. (POT) said that slower demand periods have historically been followed by robust growth. The slower demand period they are referring to is 2012, in which significant global distributor inventory destocking impacted potash demand. The company estimates 2013 world potash shipments of 55-57M tons up from an estimate of 51M tons shipped in 2012. The company notes that significant tonnage has been contracted for 1H delivery but foresees lower potash prices to to reduce government subsidy levelers in India. Potash continues to see "crop economics" to drive increased fertilizer applications, In late day trading Potash is up 0.6% to $38.82.
News For POT From The Last 14 Days
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January 20, 2015
08:26 EDTPOTAgrium preferred over Potash, Mosaic at Canaccord
Canaccord said they prefer Agrium (AGU) over both Potash (POT) and Mosaic (MOS). Mosaic raised its guidance due to its phosphate business, but with a lack of catalysts expected in the potash market in 2015 the firm continues to see solid growth volume, increasing nitrogen margins, and free cash flow expansion for Agrium. Canaccord maintains its Buy rating on Agrium and its Hold rating on both Mosaic and Potash shares.
January 19, 2015
16:28 EDTPOTMosaic raises Q4 EPS outlook to 83c-88c, consensus 57c
The Mosaic Company announced that it expects reported phosphates volume and phosphates and potash margins to exceed previously provided guidance ranges, and that potash volumes will be at the high end of guidance range, resulting in Q4 earnings per share in the range of 93c-98c, including 10c in net benefits from notable items. The notable items include early estimates of discrete tax benefits, primarily related to the acquisition of a Brazilian distribution business, which may change. The company expect earnings, excluding notable items, to be in the range of 83c-88c. The consensus EPS estimate is 57c..Mosaic stated, "Demand for potash and phosphates exceeded our expectations during the fourth quarter,. We were cautiously optimistic going into the fall application season with good crop nutrient affordability and an empty supply chain, but customers came to the market in force, as they sought to position inventory in anticipation of a strong spring season and increasing crop nutrient prices...Our Phosphates business sold 3.3 million tonnes of finished product during the quarter - well above our expectations - and our Potash business produced at a high operating rate due to a successful proving run at the Colonsay mine." Mosaic's peers include Potash (POT) and Agrium (AGU).

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