RBC Capital Sticks to Their Buy Rating for Potash Corp

By Carrie Williams

In a report released yesterday, Stephen Walker from RBC Capital reiterated a Buy rating on Potash Corp (NYSE: POT), with a price target of $19. The company’s shares closed yesterday at $16.30.

According to TipRanks.com, Walker is a 4-star analyst with an average return of 2.9% and a 49.7% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Novagold Resources Inc New, Newmont Mining Corporation, and Hecla Mining Company.

Potash Corp has an analyst consensus of Moderate Buy, with a price target consensus of $18.

Based on Potash Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.11 billion and quarterly net profit of $149 million. In comparison, last year the company earned revenue of $1.21 billion and had a net profit of $75 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Potash Corp. of Saskatchewan, Inc. is a fertilizer company, which produces crop nutrients, including potash, phosphate and nitrogen. The company operates through three business segments: Potash, Phosphate and Nitrogen. The Potash segment includes mineral deposits left by ancient evaporated seas and is used as a crop nutrient. The Phosphate segment manufactures acids for use in fertilizer, feed and industrial products. The Nitrogen segment produces a broad range of nitrogen products, including ammonia, urea and other products such as nitric acid, ammonium nitrate and nitrogen solutions. It also produces potash and granular grades, diammonium phosphate, monoammonium phosphate, phosphoric acid, ammonia and urea. The company was founded on February 4, 1975 and is headquartered in Saskatoon, Canada.