Potash Corp. of Saskatchewan (POT) Short Interest Down 13.5% in September
Potash Corp. of Saskatchewan (NYSE:POT) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 34,471,082 shares, a drop of 13.5% from the September 15th total of 39,831,709 shares. Based on an average daily volume of 7,168,417 shares, the days-to-cover ratio is presently 4.8 days. Currently, 4.1% of the shares of the stock are short sold.
A number of institutional investors have recently added to or reduced their stakes in POT. JPMorgan Chase & Co. boosted its position in Potash Corp. of Saskatchewan by 15.1% in the first quarter. JPMorgan Chase & Co. now owns 2,729,680 shares of the fertilizer maker’s stock valued at $46,460,000 after buying an additional 357,125 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in shares of Potash Corp. of Saskatchewan during the first quarter valued at approximately $1,720,000. M&T Bank Corp boosted its stake in shares of Potash Corp. of Saskatchewan by 25.0% in the first quarter. M&T Bank Corp now owns 52,950 shares of the fertilizer maker’s stock valued at $902,000 after buying an additional 10,577 shares during the last quarter. Huntington Asset Advisors Inc. purchased a new stake in shares of Potash Corp. of Saskatchewan during the first quarter valued at approximately $124,000. Finally, Aviva PLC boosted its stake in shares of Potash Corp. of Saskatchewan by 1.9% in the first quarter. Aviva PLC now owns 451,072 shares of the fertilizer maker’s stock valued at $7,689,000 after buying an additional 8,534 shares during the last quarter. 58.83% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on POT. Vetr downgraded shares of Potash Corp. of Saskatchewan from a “buy” rating to a “hold” rating and set a $17.36 price target for the company. in a report on Tuesday, September 6th. Sanford C. Bernstein set a $19.00 price target on shares of Potash Corp. of Saskatchewan and gave the company a “buy” rating in a report on Tuesday, August 30th. Cleveland Research reiterated a “neutral” rating on shares of Potash Corp. of Saskatchewan in a report on Wednesday, September 14th. Susquehanna raised shares of Potash Corp. of Saskatchewan from a “neutral” rating to a “positive” rating and set a $21.00 price objective on the stock in a research note on Monday, September 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Potash Corp. of Saskatchewan from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, July 29th. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Potash Corp. of Saskatchewan presently has an average rating of “Hold” and an average price target of $17.69.
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Shares of Potash Corp. of Saskatchewan (NYSE:POT) opened at 15.81 on Tuesday. The firm has a market cap of $13.27 billion, a P/E ratio of 19.52 and a beta of 0.71. Potash Corp. of Saskatchewan has a 52-week low of $14.64 and a 52-week high of $22.37. The stock’s 50 day moving average is $16.46 and its 200-day moving average is $16.58.
Potash Corp. of Saskatchewan (NYSE:POT) last released its earnings results on Thursday, July 28th. The fertilizer maker reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Potash Corp. of Saskatchewan had a return on equity of 9.17% and a net margin of 13.20%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business posted $0.50 EPS. The business’s revenue for the quarter was down 39.2% on a year-over-year basis. Equities analysts anticipate that Potash Corp. of Saskatchewan will post $0.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 12th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, October 7th. This represents a $0.40 annualized dividend and a yield of 2.53%. Potash Corp. of Saskatchewan’s dividend payout ratio (DPR) is presently 49.38%.
Potash Corp. of Saskatchewan Company Profile
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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