For the week ending January 5, 2018, the VanEck Vectors Agribusiness ETF (MOO) ended almost 2% higher, while the S&P 500 Index (SPY) also had a strong week with a 1.7% increase. Most of the fertilizer stocks discussed below also ended in the positive territory last week with CVR Partners (UAN) emerging as the top gainer.
CVR Partners rose ~14% throughout the week to close at $4.04 followed by Terra Nitrogen (TNH), which closed 5.3% higher at $85.8 per share. The new year also saw the delisting of two ticker symbols, PotashCorp (POT) and Agrium (AGU), as they merged under the new company name Nutrien (NTR) and a new ticker symbol. Nutrien rose 1.8% in the first week of 2018 to close at $55.7 for the week ending January 5.
CF Industries (CF) was also one of the gainers with its stock rising by 1.2% to close at $43.7 per share. Israel Chemicals (ICL) was next with a weekly gain of 1% to close at $4.11 per share for the week ending January 5. Mosaic (MOS), which delivered losses of 13% last year ended last week in the positive territory with its stock rising by as much as 0.8% to $26.9 per share.
In contrast to the above companies, Intrepid Potash (IPI) was the only one to end in the negative territory last week with its stock falling by 1.5% to close at $4.6 per share.
Last year’s best and worst performers
Last year, Intrepid Potash was the top gainer among the above companies, returning 129% from stock appreciation. On the other hand, CVR Partners was among the worst performers with a loss of 48% in 2017.
In this series, we will discuss the price performance of key fertilizers that drive the earnings of the above companies. We will begin with urea price movements.
Natural gas is one of the key input components for gas-based nitrogen fertilizer producers (MOO)(MXI) such as CF Industries (CF), Terra Nitrogen (TNH), CVR Partners (UAN), and Nutrien (NTR).
Last week, Donald Trump blacklisted Chinese telecom giant Huawei Technologies amid rising US-China trade tensions.
This year has been a great one for Snapchat parent Snap (SNAP), and its stock has nearly doubled.
Coca-Cola (KO) will offer a limited edition of its of New Coke cans beginning May 23 as part of its partnership with Netflix’s (NFLX) show Stranger Things.
Clorox stock (CLX) is down about 8% since the company posted its third quarter of fiscal 2019 earnings on May 1.
JD.com (JD) recently invested ~$55 million in purchase a ~10% stake in Jiangsu Xinning Modern Logistics, a Chinese logistics company focusing on the consumer electronics supply chain.
Today, the US stock market was on a path of recovery after starting the week on a bearish note yesterday.