Potash Corp.: Senior Exec Increases Holdings as Stock Drops

When Potash Corp. of Saskatchewan (POT) saw its shares fall as much as 15% on Tuesday, some saw it as an accurate reflection of the slowing world economy and the bearish impact this has on commodities and the companies that produce them. But others saw it as an opportunity, driving names like Agrium Inc. (AGU) and Potash Corp. to quickly make up some of their steep losses.

One person that appears to have seen an opportunty in the Potash Corp. sell-off is Garth Moore, president of the company’s PCS Potash division. He bought 3,000 company shares on Tuesday for C$175.51 a piece, just off the intra-day low. He later bought another 2,000 Potash Corp. shares for prices as high as C$180.67 to bring his company holdings to 24,800 shares.

Other than the company’s own buyback program, which a filing on Wednesday showed that 1,683,100 shares were repurchased and canceled at the end of July, company insiders haven’t been doing much of note. But maybe a sell-off for a stock that is up roughly 100% in the past 12 months is just the motivation it needed.