Topic: How To Invest

The Successful Investor Hotline – Friday, October 13, 2023

Article Excerpt

NUTRIEN LTD., $82.52, 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 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 moved up this week as the Israel/Hamas war could disrupt the export of potash fertilizers through the Israeli port of Ashdod. That could impact about 3% of global supply, and has helped lift potash prices. The war could also hurt production of natural gas in the Middle East and increase the price of nitrogen fertilizers made from natural gas. Nutrien will probably earn $5.31 U.S. a share in 2023, and the stock trades at an attractive 11.4 times that estimate. The $2.12 U.S. dividend looks secure and yields…