NEW YORK (TheStreet) -- Potash Corporation of Saskatchewan Inc. (POT) was surging 3.3% to $33.70 in midday trading on Wednesday.
The potash market suffered greatly in mid-2013 with the breakup of the Belarus Potash Company, one of two major exporting and marketing groups that combined to control about 70% of all potash market activity. Belarus member, Uralkali, decided to part ways with partner Belaruskali, which dropped potash stock prices.
But Potash of Saskatchewan received some good news at the very end of 2013 when the Russian ambassador to Belarus, Alexander Surikov, said that Uralkali would be open to partnering with Belaruskali again. A reformation of the Belarus Potash Company could elevate stock prices back to early 2013 levels.
In the last year, Potash Corporation of Saskatchewan has a low price of $28.55 a share and a high price of $44.13 a share.
TheStreet Ratings team rates POTASH CORP SASK INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate POTASH CORP SASK INC (POT) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and weak operating cash flow."