5 Best Lithium and Phosphate Stocks to Buy Now

3. Nutrien Ltd. (NYSE: NTR)

Number of Hedge Fund Holders: 33    

Nutrien Ltd. (NYSE: NTR) is ranked third on our list of 10 best lithium and phosphate stocks to buy now. The firm is based in Canada and provides crop-related services. The firm is especially famous for phosphate products and sells these through 2,000 different retail stores in the United States, Canada, South America, and Australia. It has a market cap of over $33 billion and posted more than $20 billion in revenue last year. It was founded in 2017 and employs more than 23,000 people. 

On July 8, investment advisory RBC Capital reiterated an Outperform rating on Nutrien Ltd. (NYSE: NTR) stock and raised the price target to $69 from $63, saying the company was benefiting from a strong environment and higher prices. 

At the end of the first quarter of 2021, 33 hedge funds in the database of Insider Monkey held stakes worth $895 million in Nutrien Ltd. (NYSE: NTR), up from 25 in the preceding quarter worth $754 million. 

In its Q1 2021 investor letter, Miller/Howard Investments, an asset management firm, highlighted a few stocks and Nutrien Ltd. (NYSE: NTR) was one of them. Here is what the fund said:

“For the most part, performance of the stocks within the Income-Equity Strategies was skewed towards the high-performing market sectors with two exceptions – our consumer discretionary and technology stocks both did better than their broad market peers… We bought Nutrien (NTR), a producer of fertilizer, which we believe should benefit from increasing crop prices.”