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Why has the stock of Nutrien Ltd. (NTR) Increased by 17% in the Last Week?
NTR is an agricultural inputs and services firm located in Saskatoon, Canada. NTR's stock was up 4% by mid-morning trade. We want to look at what's behind this current uptick.
NTR is the world's largest fertilizer manufacturer. According to some analysts, Russia's invasion and annexation of Ukraine might impair worldwide supplies of potash and nitrogen agricultural fertilizers. This has prompted a mad dash to NTR. It's worth noting that Western sanctions haven't yet targeted Russian fertilizer firms. Due to rising inflation, food security is already a serious worry in the West. This might deter NATO partners from enacting any prospective penalties. However, the rush to NTR and other potash producers will continue.
As of this writing, NTR's stock has increased by 60% year over year. On February 16, the firm announced its fourth quarter and full year 2021 results.
We recommended that investors seek this top TSX stock back in late 2021. In fact, the corporation had a really good year last year. NTR's revenues increased by 79% to $7.26 billion in the fourth quarter of 2021. Meanwhile, adjusted net profits per share increased by more than 900% to $2.47. The company's adjusted EBITDA increased by almost 220% to $2.46 billion.
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