Topic: How To Invest

The Successful Investor Hotline – Friday, January 7, 2022

Article Excerpt

NUTRIEN LTD., $87.47, Toronto symbol NTR, remains a buy. The company is the world’s largest producer of agricultural fertilizers. It 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 stock fell 8% this week after Mayo Schmidt abruptly resigned as the company’s chairman and chief executive officer. This follows the sudden departure of Chuck Margo as CEO in April 2021. Nutrien did not provide a reason for Mr. Schmidt’s resignation, which has fuelled the recent uncertainty. As well, he may be entitled to severance and other payments totalling $7.84 million U.S. To put that amount in context, the company earned $789 million U.S., or $1.38 U.S. a share, in the three months ended September 30, 2021. Executive vice-president Ken Seitz will become the company’s interim CEO…