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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Nutrien Ltd.    NTR   CA67077M1086

NUTRIEN LTD.

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U.S. to enforce duties on phosphate fertilizer imports from Morocco, Russia

11/24/2020 | 03:40pm EST

Nov 24 (Reuters) - The U.S. Department of Commerce said on Tuesday it would set preliminary duties on phosphate fertilizer imports from Russia and Morocco, after launching an investigation to determine if producers in these countries were receiving unfair subsidies.

The department set https://bit.ly/363xEOO preliminary duties of 23.46% on imports from Morocco's OCP Group and other producers in the country, 20.94% on those from Russia's Phosagro , 72.50% on EuroChem and 32.92% on all other Russian producers.

The decision follows an investigation launched in July on petitions filed by U.S.-based fertilizer company Mosaic Co .

Shares of Mosaic rose about 10% to $22.57, their highest in more than a year, while U.S. and Canada-listed shares of rival Nutrien rose more than 3%.

Last year, imports of phosphate fertilizers from Morocco were valued at about $729 million and from Russia at about $299 million, according to data from the department.

An oversupply in the phosphate market hurt prices for the fertilizer last year and early this year. While strong demand from Indian and Brazil has helped boost prices more recently, the gains have been limited due to the excess stocks.

Canada-based Nutrien, the world's biggest fertilizer maker by capacity, took an impairment charge in the third quarter, citing "less favorable" long-term outlook for phosphate prices and excess supply.

A final decision by the commerce department is expected on Feb. 8, followed by the International Trade Commission's final decision on March 25, with the issuance of an order on April 1.

BMO Capital Markets analyst Joel Jackson said he expects U.S. phosphate price premiums to continue to hold over the near term.

He added that historically, duties, if imposed, have not changed materially between preliminary and final determinations. (Reporting by Arathy S Nair and Arundhati Sarkar in Bengaluru; Editing by Sriraj Kalluvila)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) 2.24% 6.6542 Delayed Quote.2.58%
NUTRIEN LTD. -1.70% 67.06 Delayed Quote.9.50%
PHOSAGRO 0.43% 3485 End-of-day quote.11.24%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.07% 75.172 Delayed Quote.0.19%
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Financials (USD)
Sales 2020 19 984 M - -
Net income 2020 203 M - -
Net Debt 2020 9 677 M - -
P/E ratio 2020 128x
Yield 2020 3,41%
Capitalization 29 957 M 29 992 M -
EV / Sales 2020 1,98x
EV / Sales 2021 1,87x
Nbr of Employees 22 300
Free-Float 99,2%
Chart NUTRIEN LTD.
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Nutrien Ltd. Technical Analysis Chart | NTR | CA67077M1086 | MarketScreener
Technical analysis trends NUTRIEN LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 54,23 $
Last Close Price 52,64 $
Spread / Highest target 17,8%
Spread / Average Target 3,03%
Spread / Lowest Target -14,5%
EPS Revisions
Managers and Directors
NameTitle
Charles V. Magro President, CEO & Non-Independent Director
Mayo M. Schmidt Chairman
Pedro Farah Chief Financial Officer & Executive Vice President
Brent D. Poohkay Chief Information Officer & Executive VP
Christopher M. Burley Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
NUTRIEN LTD.9.50%29 992
SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A.16.48%14 939
THE SCOTTS MIRACLE-GRO COMPANY16.00%12 864
YARA INTERNATIONAL ASA8.88%11 967
SAUDI ARABIAN FERTILIZERS COMPANY13.77%11 635
THE MOSAIC COMPANY23.12%10 740