POTASH CORP. OF SASKATCHEWAN $37 - Toronto symbol POT

POTASH CORP. OF SASKATCHEWAN $37 (Toronto symbol POT; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 856.1 million; Market cap: $31.7 billion; Price-to-sales ratio: 4.2; Dividend yield: 4.2%; TSINetwork Rating: Average; www.potashcorp.com) earned $2.04 a share in 2013, down 13.9% from $2.37 in 2012 (all amounts except share price and market cap in U.S. dollars). Sales fell 7.8%, to $7.3 billion from $7.9 billion. North American potash demand should rebound in 2014, because farmers will need more fertilizer to replenish their soil after last year’s record crops. However, delayed orders will likely slow exports to Asia, because buyers feel prices will keep falling after last July’s breakup of a marketing alliance between producers in Russia and Belarus. Potash Corp. is still a hold.

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