Topic: How To Invest

The Successful Investor Hotline – Friday, April 19, 2024

Article Excerpt

NUTRIEN LTD., $72.56, Toronto symbol NTR, is still a buy for the Resources portion of your portfolio. The company is the world’s largest producer of agricultural fertilizers. It also sells seeds, fertilizers and agricultural products to farmers through some 2,000 stores in Canada, the U.S., Australia and South America. Nutrien took its current form on January 1, 2018, when Agrium Inc. (old symbol AGU) merged with rival Potash Corp. of Saskatchewan (old symbol POT). Potash Corp. shareholders received 0.40 shares in Nutrien for each POT share they held; Agrium investors received 2.23 shares for each AGU share. The company now plans to sell its retail operations in Argentina, Chile and Uruguay, but will hang on to its operations in Brazil. That’s partly because the new government of Argentina recently devalued its currency (the peso) in relation to the U.S. dollar. Nutrien may also try to sell its 50% stake in a joint venture with Argentina’s state-run oil company YPF SA. That venture makes urea and ammonia. Due…