The week ending April 7, 2017, was broadly mixed for agricultural fertilizer stocks. The VanEck Vectors Agribusiness ETF (MOO) rose by 13 basis points, while the S&P 500 (SPY) fell by 13 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.
Fertilizer stock performance
Last week remained mostly mixed for fertilizer stocks. Out of the eight stocks in the above chart, four ended the week in positive territory, while the remaining stocks ended in negative territory.
CVR Partners (UAN) emerged as the top gainer. It rose by as much as 3.9% to $4.55 per share. CF Industries (CF) stock rose 3.8% to $29.42 per share. Intrepid Potash (IPI) rose 3.5% to $1.65 per share, while Israel Chemicals (ICL) rose 1.9% to $4.43 per share.
Mosaic (MOS) fell 0.2% to $29.19 per share. Terra Nitrogen (TNH) fell 0.49% to $92.59 per share. PotashCorp (POT) and Agrium (AGU) ended last week at the bottom. PotashCorp fell 1.2% to $17.43 per share, while Agrium (AGU) fell 1.5% to $97.49 per share. Let’s look at how these stocks performed YTD.
With a YTD return of 5.1%, Israel Chemicals is still in positive territory compared to other companies in the above chart. The company outperformed the S&P 500, which returned 4.3% YTD. It also outperformed the Agribusiness ETF MOO, which returned 3.7% YTD. The remaining seven stocks in the above chart are in negative territory YTD as well. CVR Partners emerging as the top loser—it fell 25% YTD.
In this weekly update series, we’ll discuss movements in fertilizer prices—the most important value drivers for the stocks discussed above. To learn more, read Here Comes Agribusiness: Your Pre-Earnings Update.
First, we’ll look at urea prices.