Nutrien Ltd. (NYSE:NTR) was the target of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 1,443,092 shares, a decrease of 42.7% from the January 12th total of 2,518,046 shares. Based on an average daily volume of 1,664,172 shares, the days-to-cover ratio is currently 0.9 days.
A number of equities research analysts recently commented on NTR shares. Zacks Investment Research upgraded Nutrien from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective for the company in a report on Saturday, January 13th. Cowen reiterated an “outperform” rating and issued a $60.00 price objective on shares of Nutrien in a report on Thursday, January 4th. BMO Capital Markets started coverage on Nutrien in a report on Wednesday, January 3rd. They issued a “market perform” rating and a $54.00 price objective for the company. Royal Bank of Canada started coverage on Nutrien in a report on Monday, January 8th. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, Citigroup upgraded Nutrien from a “neutral” rating to a “buy” rating in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $58.50.
An institutional investor recently bought a new position in Nutrien stock. Verity Asset Management Inc. purchased a new position in Nutrien Ltd. (NYSE:NTR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,354 shares of the company’s stock, valued at approximately $594,000.
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Nutrien Company Profile
Nutrien Ltd. produces and distributes potash, nitrogen, and phosphate products for agricultural, industrial, and feed customers worldwide. It offers potash crop feed, fertilizer, industrial, metal finishing, and purified acid products, as well as blends. The company is also involved in the retail operations that serve growers in seven countries across three continents.
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