Nutrien’s long-term outlook is still bright

Article Excerpt

Nutrien’s shares are down over 50% from their April 2022 peak following Russia’s invasion of Ukraine, which caused a big spike in potash prices. However, potash supplies and prices later declined. Even so, the company’s stands to gain from a rising global population and the need for more and better food. Moreover, its high dividend yield looks sustainable. NUTRIEN LTD. $66 is a buy. The company (Toronto symbol NTR; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 493.4 million; Market cap: $32.6 billion; Price-to-sales ratio: 0.9; Dividend yield: 4.6%; TSINetwork Rating: Average; www.nutrien.com) is the world’s largest producer of agricultural fertilizers, including potash, nitrogen and phosphate. It ships about 26 million tonnes annually. Nutrien also sells seeds, fertilizers and agricultural products to farmers through some 2,000 stores spread across the Western Hemisphere and Australia. The company took its current form on January 1, 2018, through the merger of fertilizer producer Agrium (old symbol AGU) and its rival Potash Corp. of Saskatchewan (old symbol POT). At the…