The week ending March 17, 2017, was broadly negative for some major agricultural fertilizer stocks. However, the VanEck Vectors Agribusiness ETF (MOO) rose by 18 basis points, while the S&P 500 (SPY) rose by 20 basis points during the week. Let’s take a look at the weekly and YTD (year-to-date) performances of eight major publicly listed agricultural fertilizer companies.
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Last week remained mostly negative for fertilizer stocks. Out of the eight stocks in the above chart, only two ended the week in positive territory. Terra Nitrogen (TNH) emerged as the top gainer. It rose as much as 3.2% to $92.59 per share. Mosaic (MOS) stock rose by 17 basis points to $29.19 per share.
On the other hand, Agrium (AGU) fell by 14 basis points to $97.49 per share, while PotashCorp (POT) fell by 23 basis points to $17.43 per share. CF Industries (CF) fell by 44 basis points to $29.42 per share. CVR Partners (UAN) fell by 88 basis points to $4.55 per share. Israel Chemicals (ICL) and Intrepid Potash (IPI) ended last week at the bottom. Israel Chemicals fell 1.1% to $4.43 per share, while Intrepid Potash fell 7% to $1.65 per share. Let’s look at how these stocks performed YTD (year-to-date).
YTD, Israel Chemicals is still the top performer with a 6.9% return. In contrast, Intrepid Potash was the biggest loser last week. It fell 29.3% YTD, while CVR Partners fell 28.9% YTD.
CF Industries Holdings fell 8.1% during the same period, while Terra Nitrogen stock fell 7.9% YTD. PotashCorp stock fell 4.4% YTD, while Agrium fell 3.3% and Mosaic fell 1.2%.
YTD, the VanEck Vectors Agribusiness ETF is up 4.6% and the S&P 500 Index is up 5.3%.
Fertilizer prices are key to these companies’ performance metrics. In this series, we’ll provide an update on fertilizer price movements for the week ending March 17, 2017.
We’ll start by looking at last week’s price movements for nitrogen, phosphate, and potash fertilizers. Toward the end of the series, we’ll discuss fertilizer affordability.