Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Upgrading Energy & Materials to Overweight 2018 is setting up to be an attractive year for commodity-related sectors. Both Energy and Materials have hurriedly advanced within our relative strength rankings over the past several weeks--now ranking #2 and #4, respectively--confirming the widespread patterns visible in the charts of each Sector's constituents: bottoms and bases. We have highlighted these evolving set-ups over the past year, identifying: improving internals in energy (Aug. 12)...
PotashCorp and Agrium have announced that their merger has received all regulatory approvals and will close on Jan. 1, 2018, and the combined firms will begin trading as Nutrien on Jan 2 on both the Toronto Stock Exchange and New York Stock Exchange under the ticker NTR. We will publish our fair value estimate for Nutrien when we initiate coverage, but in the interim, we maintain our U.S. fair value estimates for PotashCorp of $23 per share and Agrium of $127 per share, which assume the merger c...
PotashCorp and Agrium have announced that their merger has received all regulatory approvals and will close on Jan. 1, 2018, and the combined firms will begin trading as Nutrien on Jan 2 on both the Toronto Stock Exchange and New York Stock Exchange under the ticker NTR. We will publish our fair value estimate for Nutrien when we initiate coverage, but in the interim, we maintain our U.S. fair value estimates for PotashCorp of $23 per share and Agrium of $127 per share, which assume the merger c...
Breakouts in global fertilizer/potash stocks -- buy • Technicals are beginning to respond to the consolidation within the agriculture chemical industry, where companies are striving to achieve economies of scale to survive. Another tailwind is visible in a key input cost for nitrogen fertilizers: natural gas, which is selling off to 10-month lows. Combined--technicals and favorable input costs--we view this as an attractive theme. • Breakouts from multi-year base and bottom patterns are th...
AGRIUM INCO. (US), a company active in the Specialty Chemicals industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 2 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date December 1, 2017, the closing price was USD 109.92 and its expected value was estimated a...
A director at Agrium Inc bought 7,170 shares at 139.613CAD and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clear...
On Oct. 18, PotashCorp and Agrium announced that their proposed merger has received regulatory approval in India on the condition that the combined company, which will be named Nutrien, divest PotashCorp’s minority shareholdings in SQM (32% ownership), Israel Chemicals (14%), and Arab Potash (28%) within the next 18 months. At current market prices, the three investments are worth over $6.1 billion, of which nearly $5.1 billion comes from SQM. SQM is currently trading at $59 per share, which i...
On Oct. 18, PotashCorp and Agrium announced that their proposed merger has received regulatory approval in India on the condition that the combined company, which will be named Nutrien, divest PotashCorp’s minority shareholdings in SQM (32% ownership), Israel Chemicals (14%), and Arab Potash (28%) within the next 18 months. At current market prices, the three investments are worth over $6.1 billion, of which nearly $5.1 billion comes from SQM. SQM is currently trading at $59 per share, which i...
Agrium reported mixed third-quarter results, as increased retail EBITDA was partially offset by continued weakness in the wholesale business from low fertilizer prices. With our long-term outlook for continued growth in the retail business unchanged, we maintain our $127 per share fair value estimate, which assumes the merger with PotashCorp closes at the end of 2017. Our CAD fair value estimate increases to CAD 162 per share from CAD 158 because of recent strengthening of the U.S. dollar agains...
Agrium reported mixed third-quarter results, as increased retail EBITDA was partially offset by continued weakness in the wholesale business from low fertilizer prices. With our long-term outlook for continued growth in the retail business unchanged, we maintain our $127 per share fair value estimate, which assumes the merger with PotashCorp closes at the end of 2017. Our CAD fair value estimate increases to CAD 162 per share from CAD 158 because of recent strengthening of the U.S. dollar agains...
On Oct. 18, PotashCorp and Agrium announced that their proposed merger has received regulatory approval in India on the condition that the combined company, which will be named Nutrien, divest PotashCorp’s minority shareholdings in SQM (32% ownership), Israel Chemicals (14%), and Arab Potash (28%) within the next 18 months. At current market prices, the three investments are worth over $6.1 billion, of which nearly $5.1 billion comes from SQM. SQM is currently trading at $59 per share, which i...
On Oct. 18, PotashCorp and Agrium announced that their proposed merger has received regulatory approval in India on the condition that the combined company, which will be named Nutrien, divest PotashCorp’s minority shareholdings in SQM (32% ownership), Israel Chemicals (14%), and Arab Potash (28%) within the next 18 months. At current market prices, the three investments are worth over $6.1 billion, of which nearly $5.1 billion comes from SQM. SQM is currently trading at $59 per share, which i...
CORPORATES CREDIT OPINION 30 September 2017 Update RATINGS Agrium Inc. Domicile Alberta, Canada Long Term Rating Baa2 , Possible Upgrade Type Senior Unsecured - Fgn Curr Outlook Rating(s) Under Review Please see the ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Brian Oak 212-553-294
We’ve reduced our outlook for phosphate and potash prices as we expect more new capacity to come on line than we had forecast. Our 2025 phosphate price falls to $360 per metric ton (in real terms), down from $420. In potash, while we still expect a 2025 potash price of $260 per metric ton (in real terms), we don't see meaningful price expansion until after 2020. Our Mosaic fair value estimate falls to $30 per share from $33. Our Agrium U.S. share class fair value estimate decreases to $110 per...
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