Nutrien Ltd (NYSE: NTR): Reassessing Prospects

Nutrien Ltd (NTR) concluded trading on Wednesday at a closing price of $56.19, with 3.45 million shares of worth about $193.64 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -6.19% during that period and on April 3, 2024 the price saw a gain of about 2.91%. Currently the company’s common shares owned by public are about 494.55M shares, out of which, 494.37M shares are available for trading.

However, the stock later moved at a day high price of 53.47, or with a gain of 2.91%. Stock saw a price change of 5.90% in past 5 days and over the past one month there was a price change of 10.26%. Year-to-date (YTD), NTR shares are showing a performance of -0.25% which decreased to -23.91% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $47.90 but also hit the highest price of $75.29 during that period. The average intraday trading volume for Nutrien Ltd shares is 2.06 million. The stock is currently trading 5.41% above its 20-day simple moving average (SMA20), while that difference is up 8.17% for SMA50 and it goes to -2.18% lower than SMA200.

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Nutrien Ltd (NYSE: NTR) currently have 494.55M outstanding shares and institutions hold larger chunk of about 71.76% of that.

The stock has a current market capitalization of $27.79B and its 3Y-monthly beta is at 0.90. PE ratio of stock for trailing 12 months is 22.27, while it has posted earnings per share of $2.52 in the same period. It has Quick Ratio of 0.65 while making debt-to-equity ratio of 0.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NTR, volatility over the week remained 2.34% while standing at 2.05% over the month.

Stock’s fiscal year EPS is expected to drop by -10.84% while it is estimated to increase by 6.32% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on March 26, 2024 offering a Buy rating for the stock and assigned a target price of $62 to it. Coverage by Wolfe Research stated Nutrien Ltd (NTR) stock as an Outperform in their note to investors on March 01, 2024, suggesting a price target of $66 for the stock. On February 29, 2024, Piper Sandler Downgrade their recommendations, while on February 23, 2024, JP Morgan Downgrade their ratings for the stock with a price target of $48. Stock get a Mkt perform rating from Raymond James on January 12, 2024.

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