Report
Seth Goldstein, CFA
EUR 101.80 For Business Accounts Only

K+S' Legacy mine will lower cash costs but comes with high capital costs.

We've updated our forecasts for Compass Minerals and K+S after slightly reducing our long-term outlook for U.S. deicing salt demand. Our fair value estimate for Compass Minerals slips to $85 per share from $88. Concurrently, we've changed our uncertainty rating to high from medium to reflect a greater range of deicing salt sales scenarios. Compass' low cost operations continue to merit a "wide" economic moat rating. We’ve maintained our K+S fair value estimate of EUR 17 per share as our tempered...
Underlying
K+S AG

K+S is engaged in the chemical sector. Co. has three business segments. The Potash and Magnesium Products segment combines the production and marketing of potash fertilizers and fertilizer specialities as well as potash and magnesium compounds for technical, industrial and pharmaceutical applications. The Salt segment encompasses the production and marketing of food grade salt, industrial salt and salt for chemical use, de-icing salt and sodium chloride brine. The Complementary Activities segment bundles together recycling activities and waste disposal or reutilisation in potash and rock salt mines as well as catsan® granulation.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Seth Goldstein, CFA

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