Surging Grain Prices Propel Potash’s Q1 Earnings (POT)

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Fertilizer maker Potash Corp. ( POT ) on Thursday posted better-than-expected first quarter earnings, aided by a big spike in grain prices, which in turn drives demand for its products.

The Saskatoon, Canada-based company reported first quarter net income of $732 million, or 84 cents per share, compared with $444 million, or 49 cents per share, in the year-ago period.

Revenue jumped almost 30% from last year to $2.20 billion.

On average, Wall Street analysts expected a smaller profit of 80 cents per share, on lower revenue of $2.01 billion.

Potash shares rose 61 cents, or +1.1%, in premarket trading Thursday.

The Bottom Line
Shares of Potash Corp ( POT ) have a .49% dividend yield, based on last night's closing stock price of $57.19. The stock has technical support in the $50-$53 price area. If the shares can firm up, we see overhead resistance around the $60-$63 price levels.

Potash Corp. ( POT ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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