10 Undervalued Canadian Stocks to Buy Now

5. Nutrien Ltd. (NYSE:NTR)

Forward P/E as of April 4: ~12.3x

Number of Hedge Fund Holders: 32

Nutrien Ltd. (NYSE:NTR) offers crop inputs and services. The company is headquartered in Saskatoon, Canada. CIBC upped the company’s price objective to $66 from $64, keeping an “Outperformer” rating. It believes that the company remains its preferred name in fertilizers. Given the significant underutilized potash capacity, Nutrien Ltd. (NYSE:NTR) remains well-placed to benefit from positive long-term demand for potash, says the firm’s analyst. The company managed to deliver higher upstream fertilizer sales volumes, accelerate operational efficiency and cost savings initiatives, and increase downstream Retail earnings in 2024.

The outlook for Nutrien Ltd. (NYSE:NTR)’s business in 2025 is well-aided by anticipations for healthy crop input demand and strong potash fundamentals. Annual potash sales volume guidance of 13.6 – 14.4 million tonnes remains consistent with the company’s global shipments outlook and includes some uncertainty related to the possible imposition and related impact of US tariffs and global supply availability. In 2024, the company progressed nitrogen brownfield expansions at 2 of its North American sites.

Nutrien Ltd. (NYSE:NTR) mined 35% of its potash ore tons using automation, hinting at the progress made towards its 2026 target of 40% – 50%. Such advancements offer efficiency, flexibility, and safety benefits at the sites. The company has enhanced its midstream distribution capabilities, which include the opening of a new potash terminal in the US Cornwell. Notably, the investments in its global distribution network will be Nutrien Ltd. (NYSE:NTR)’s priority to ensure it supports the growth objectives.