23:19:59 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Nutrien Ltd
Symbol NTR
Shares Issued 494,462,583
Close 2023-06-16 C$ 79.12
Market Cap C$ 39,121,879,567
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Globe says potash plays like Nutrien seen rebounding

2023-06-19 08:56 ET - In the News

The Globe and Mail reports in its Saturday, June 17, edition that the worst days for potash producers may be over. The Globe's David Berman writes that the hope now is that a prolonged comeback is in the works for stocks such as Germany's K+S and Nutrien, which are down 56 per cent and 44 per cent, from highs just 14 months ago. Scotiabank analyst Ben Isaacson believes the bottom of the potash market has arrived. Potash does not usually attract the level of attention of commodities such as copper or crude oil. However, that changed earlier this month when Canpotex, a joint venture that markets Canadian potash exports from Nutrien and U.S.-based Mosaic, reached a deal with China to sell the commodity through the end of this year at just $307 (U.S.) per tonne. To put that in perspective, the price is 48 per cent below that of the previous contract with China. As well, it is 27 per cent below the price of a contract with India that was settled just two months ago. Despite the grim outlook, some brave investors are nibbling at the low share price of K+S and Nutrien. If a rebound takes longer, investors should keep in mind that Nutrien and K+S are providing attractive incentives for investors to stay put.

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