Canadian Stock #5 –
Potash Corp. of Saskatchewan (POT) produces fertilizers, agricultural
chemicals and feed products — primarily its namesake “potash,” or potassium carbonate mixed with other nutrients. Though this company is down dramatically from its highs in 2008, I think POT has bottomed out and now investor sentiment is turning around.
For instance, Potash’s moved 1.1 million tons of crop nutrients in the fourth quarter, which was down compared to the previous quarter, but the 23% slide was a dramatic improvement over the 65% decline for the full year. Potash has been struggling to find a right production target, and I feel like the company is close to an effective target.
What’s more, potash prices could be on the rise globally after leading exporter Belarussian Potash Co. boosted prices by more than 6% in Brazil and Asia. That means companies like POT can also command a higher price — and deliver bigger profits going forward.
7 Top Canadian Stocks
Article printed from InvestorPlace Media, http://investorplace.com/2010/02/top-canadian-stocks-ccj-cni-eca-gg-pot-rimm-tb/.
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