With improving fundamentals I see POT back in the $50s this year. The generous dividend and rapidly expanding free cash flow (as capital expenditures wind down and profits grow on higher volumes) tell me this depressed price level won't last much longer. POT has been an underperformer, but the fundamentals say it will not remain an underperformer. This is a wide-moat industry leader in an industry experiencing secular growth. Nost importantly, its #1 in the world and has a 100 year low cost supply of Potash, and that's kick#$%$. Lots of new mining projects getting scuttled, like Vale's new mining project in Argentina and BHP's Janzen project, and that's also good news.