#3 - Nutrien (NYSE:NTR)
Next on this list of agricultural stocks to buy is Nutrien (NYSE:NTR). The company offers many of the products that are used in farming. But it’s one, in particular, that may be particularly relevant to investors in the coming quarters. The company produces potash. Ukraine is one of the leading suppliers of potash. But that supply has largely been offline since the Russian invasion.
While the company doesn’t have the market cornered on potash, it is the world’s largest producer of potash. That may explain the company’s exceptional performance thus far in 2022. The second quarter is typically the company’s best in terms of revenue. And this year was no exception, with the company posting a record $14.51 billion, a 48% increase from the prior year.
NTR stock is up 15% while the markets are at bear market lows. Nutrien also has a P/E ratio of 7x earnings and a tasty dividend that pays out $1.92 on an annual basis which currently calculates to a 2.21% dividend yield.
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
- $58.44
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 12 Buy Ratings, 5 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $67.50 (15.5% Upside)
