RE: Will AGU and POT take different paths?Good research, however you are attempting to compare them with the assumption that the commodities they produce are equals. One can see this is not so when you factor in the actual potash - commodity component of each companies current and future sales commitments. While AGU does supply Potash, it's percentage of total sales is relatively small. What gives POT the premium P/E is the Potash component being its main product. Agrium relies more heavily on Nitrogen and Phosphates than does PCS. The comparison you are making could be best summed up as comparing Natural Gas to Oil. Both are for energy, but the pricing mechanisms are different (as are the margins).
That being said, AGU does present an attractive potential return, but it will never move upwards independantly of Potash Corp (PCS)