Investment analysts at HSBC Holdings plc initiated coverage on shares of Potash Corporation of Saskatchewan Inc. (NYSE:POT) (TSE:POT) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “buy” rating on the fertilizer maker’s stock.

Several other research analysts also recently commented on the stock. Scotiabank raised shares of Potash Corporation of Saskatchewan from a “sector perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Monday, July 10th. TD Securities raised shares of Potash Corporation of Saskatchewan from a “hold” rating to a “buy” rating and raised their price target for the company from $17.50 to $24.00 in a report on Thursday, September 28th. Zacks Investment Research downgraded shares of Potash Corporation of Saskatchewan from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $19.00 price objective on shares of Potash Corporation of Saskatchewan in a report on Friday, July 28th. Finally, Cowen and Company set a $16.00 price objective on shares of Potash Corporation of Saskatchewan and gave the stock a “hold” rating in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Potash Corporation of Saskatchewan has an average rating of “Hold” and a consensus target price of $18.55.

Shares of Potash Corporation of Saskatchewan (POT) opened at 18.98 on Wednesday. Potash Corporation of Saskatchewan has a 1-year low of $15.72 and a 1-year high of $20.27. The firm’s 50-day moving average price is $18.39 and its 200 day moving average price is $17.28. The company has a market capitalization of $15.94 billion, a PE ratio of 33.42 and a beta of 0.48.

Potash Corporation of Saskatchewan (NYSE:POT) (TSE:POT) last announced its quarterly earnings results on Thursday, July 27th. The fertilizer maker reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01). Potash Corporation of Saskatchewan had a net margin of 11.07% and a return on equity of 5.19%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $982.05 million. During the same period in the previous year, the business earned $0.18 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts predict that Potash Corporation of Saskatchewan will post $0.64 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the stock. Perigon Wealth Management LLC raised its position in Potash Corporation of Saskatchewan by 35.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 25,177 shares of the fertilizer maker’s stock worth $413,000 after purchasing an additional 6,553 shares during the period. Hikari Tsushin Inc. purchased a new position in Potash Corporation of Saskatchewan in the 2nd quarter worth $440,000. Cetera Investment Advisers purchased a new position in Potash Corporation of Saskatchewan in the 2nd quarter worth $174,000. Advisory Services Network LLC raised its position in Potash Corporation of Saskatchewan by 5.9% in the 2nd quarter. Advisory Services Network LLC now owns 37,766 shares of the fertilizer maker’s stock worth $616,000 after purchasing an additional 2,096 shares during the period. Finally, Banco BTG Pactual S.A. purchased a new position in Potash Corporation of Saskatchewan in the 2nd quarter worth $489,000. Institutional investors own 56.98% of the company’s stock.

About Potash Corporation of Saskatchewan

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.

The Fly

Analyst Recommendations for Potash Corporation of Saskatchewan (NYSE:POT)

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