10 Best Potash Stocks to Buy

4. Nutrien Ltd. (NYSE:NTR)

Number of Hedge Fund Holders: 33 

Nutrien Ltd. (NYSE:NTR) is a Canadian corporation that stands out as one of the world’s largest potash producers and retailers. The company’s diverse portfolio includes the production of potash, nitrogen, and phosphate, making it a significant player in the global agricultural industry.  utrien has been investing in automation and artificial intelligence to enhance efficiency and reduce workplace injuries. The company plans to spend $15 to $20 million per year over the next 10 years to implement these technologies.

Nutrien has received a Moderate Buy rating from 15 Wall Street analysts based on recent forecasts. The average price target is $66.79, with a range from $52.00 to $80.00. This average indicates a potential 28.52% increase from the current price of $51.97. In Q1 2024, there were 33 hedge fund holders in the company, down from 39 in the previous quarter. First Eagle Investment Management held the largest position in the company with 9,571,272 shares worth $519,815,984, comprising 1.18% of the company’s total portfolio.

Nutrien Ltd. (NYSE:NTR) reported net earnings of $165 million ($0.32 diluted net earnings per share) in the first quarter of 2024. This was down from $576 million ($1.14 per share) in the same period in 2023, primarily due to lower net fertilizer selling prices and their adjusted EBITDA was $1.1 billion.