The VanEck Vector Agribusiness ETF (MOO) fell 14 basis points between its closing on September 28 and its closing on October 5. However, the overall fertilizer sector appeared to be positive.
Five of the six fertilizer stocks in the above chart ended in the positive territory last week. CVR Partners (UAN), which produces nitrogen fertilizer, emerged as the biggest gainer with a 10.5% increase week-over-week to close at $4.2 per share. Israel Chemicals (ICL) followed with a 3.2% gain to close at $6.2 per share, followed by Mosaic Company (MOS), which rose 1.9% to $33.1 per share. CF Industries (CF) was also among the gainers last week with a rise of about 1.1% to $55, followed by Nutrien (NTR), which closed 55 basis points higher at $58.
Intrepid Potash (IPI) was the only stock to post losses last week with a fall of 1.7% to $3.5 per share. Let’s look at how these stocks have performed so far this year.
YTD (year-to-date), the overall fertilizer sector is deep into the green territory. Israel Chemicals, for example, has risen ~53% YTD, followed by CF Industries, which gained about 27.5%. Mosaic was next with a 24% gain, followed by CVR Partners, which was up 19%. Nutrien was also in the green with a 6% YTD gain, while Intrepid Potash was down by 24% during the same period.
In the following series, we’ll discuss fertilizer prices, which are key drivers for fertilizer companies’ earnings.