Fertilizer begins to fly as Russian miners demonstrate pricing power (POT, IPI, MON, AGU, MOS)

Posted in General 
July 2nd, 2009

Fertilizer stocks are gaining ground, with stocks including Potash CP (NYSE: POT) trading rising 4 percent, above $94, with nearly half its average volume changing hands in the first hour of Thursday trading.

The company could be benefit from a Bloomberg.com’s report that Russia’s two largest potash miners plan to raise prices for domestic fertilizer producers by about 20%.  It suggests potential pricing power for companies like Potash, which produces potash from six mines in Saskatchewan and one in New Brunswick.

Other fertilizer stocks are on the move including Intrepid Potash Inc. (NYSE: IPI), rising about 3 percent above $28 a share, on volume of about 550,000. Agrium Inc. (NYSE: AGU) and Mosaic Co. (NYSE: MOS) also are trending higher on relatively strong volume a day before a 3-day weekend. — Mike Tarsala

Comments are closed

-->