#6 - Nutrien (NYSE:NTR)
One of the more frightening stories emerging for 2023 is the possibility of food shortages. There are many reasons for this, including Russia’s invasion of Ukraine and the high cost of fertilizer which is itself driven by the high cost of fuel. That brings the Canadian-based Nutrien (NYSE:NTR) into the spotlight.
Nutrien is the world’s largest potash producer. Ukraine is also one of the leading suppliers of potash. But that supply has largely been offline since the Russian invasion. The company is also the third-largest producer of nitrogen fertilizer, which, as noted above, is in high demand as farmers try to increase production.
NTR stock is up 20% in the last year, and it looks like it still has some room to grow. The stock has a P/E ratio of 6.8x. And that is below the sector average, so there’s likely some upside to go with this stock, particularly if revenue keeps growing at its current pace.
About Nutrien
Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.
Read More - Current Price
- $44.58
- Consensus Rating
- Hold
- Ratings Breakdown
- 11 Buy Ratings, 4 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $58.95 (32.2% Upside)
