In the week ending November 3, agricultural fertilizer stocks were broadly positive. The VanEck Vectors Agribusiness ETF (MOO) ended almost flat week-over-week, while the S&P 500 Index (SPY) rose by 66 basis points last week. The optimism in fertilizer stocks came from better-than-expected performances in the recent earnings season. Let’s look at last week’s movements for eight fertilizer stocks.
Last week, Terra Nitrogen (TNH) emerged as the top gainer with a weekly gain of 14.7% and closed the week at $85.8. Intrepid Potash (IPI) followed with a weekly gain of 7.8%, closing at $4. Next was Mosaic (MOS) with a rise of 7.3% to $22.5. CVR Partners (UAN) followed with a rise of 4.5% to $3.5 over the same period.
CF Industries (CF), which reported its 3Q17 earnings last week, rose 3.3% and closed at $39.3 per share. CF Industries also received analyst upgrades last week following its earnings. Read CF Industries’ 3Q17 Earnings and the Market’s Reaction to learn more. Israel Chemicals (ICL) also ended in positive territory at $4.2 with a gain of 1.2% for the week ending November 3 followed by PotashCorp (POT), which was slightly higher by five basis points to $19.3 per share.
In contrast to the above stocks, Agrium (AGU) was the only one to end in the negative territory with a loss of 24 basis points to $107.8 per share. Let’s look at the top gainers and losers among the above companies so far this year.
Top gainers and losers
Among the above eight fertilizer stocks, Intrepid Potash continued to be the top gainer with a YTD (year-to-date) gain of 92% followed by CF Industries, which rose 23% during the same period. Among the losers, CVR Partners remained on the top with a loss of 44.6% so far this year followed by Mosaic, which was down by 23.8% over the same period.
In this weekly series, we’ll discuss the weekly movement in key fertilizer prices along with affordability last week.