HSBC Holdings plc started coverage on shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) in a note issued to investors on Wednesday, The Fly reports. The brokerage set a “buy” rating on the basic materials company’s stock.

A number of other research analysts have also issued reports on AGU. Stifel Nicolaus reiterated a “buy” rating and set a $116.00 price target (up previously from $107.00) on shares of Agrium in a research report on Friday, August 11th. TD Securities boosted their price target on Agrium from $99.00 to $102.00 and gave the stock a “hold” rating in a research report on Thursday, August 10th. BMO Capital Markets reiterated a “hold” rating and set a $100.00 price target on shares of Agrium in a research report on Friday, October 6th. Royal Bank Of Canada set a $110.00 price target on Agrium and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Cowen and Company set a $99.00 price target on Agrium and gave the stock a “buy” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $110.40.

Shares of Agrium (NYSE AGU) opened at 105.78 on Wednesday. The firm has a market cap of $14.62 billion, a P/E ratio of 25.52 and a beta of 0.62. The firm has a 50-day moving average price of $103.05 and a 200-day moving average price of $96.57. Agrium has a 12-month low of $87.78 and a 12-month high of $111.88.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Inc. lifted its holdings in shares of Agrium by 10.4% during the third quarter. Advisor Group Inc. now owns 1,362 shares of the basic materials company’s stock valued at $124,000 after purchasing an additional 128 shares during the last quarter. Exane Derivatives purchased a new stake in shares of Agrium during the second quarter valued at $126,000. Tower Research Capital LLC TRC lifted its holdings in shares of Agrium by 138.8% during the first quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 909 shares during the last quarter. Huntington Asset Advisors Inc. purchased a new stake in shares of Agrium during the first quarter valued at $150,000. Finally, Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Agrium by 11.4% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 1,715 shares of the basic materials company’s stock valued at $155,000 after purchasing an additional 175 shares during the last quarter. 66.41% of the stock is owned by institutional investors and hedge funds.

About Agrium

Agrium Inc is a retailer of agricultural products and services in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay and a multi-national producer and wholesale marketer of nutrients for agricultural and industrial markets. The Company’s segments include Retail and Wholesale. As of December 31, 2016, its Retail business unit marketed crop nutrients, crop protection products, seed, merchandise, application and other agronomic services through 1,500 retail locations in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay.

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Analyst Recommendations for Agrium (NYSE:AGU)

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