|Bid||0.00 x 2200|
|Ask||0.00 x 4000|
|Day's Range||3.68 - 3.90|
|52 Week Range||3.12 - 5.31|
|Beta (3Y Monthly)||1.26|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Last week, potash prices were broadly flat to positive at the locations discussed below. The potash prices continued to have strong momentum, which is positive for companies (MOO) including Nutrien (NTR), Mosaic (MOS), Israel Chemicals (ICL), and Intrepid Potash (IPI). Let’s look at the price movements in more detail below.
The week ending November 2 was broadly positive for the agribusiness sector. The VanEck Vectors Agribusiness ETF (MOO) rose ~4.5% week-over-week, while the overall market represented by the S&P 500 Index rose 2.5% on a weekly basis. The fertilizer sector also broadly ended in the positive territory. The six stocks discussed below gained momentum last week.
In 2014 Bob Jornayvaz was appointed CEO of Intrepid Potash Inc (NYSE:IPI). First, this article will compare CEO compensation with compensation at similar sized companies. Next, we’ll consider growth that Read More...
The Fertilizer Affordability Index is issued by Mosaic and gives insight into the level of fertilizer affordability with respect to crop prices. The Fertilizer Affordability Index for the week ending October 26 rose slightly to 0.86x from 0.85x a week ago. Since crop prices are key in determining fertilizer affordability, we must also look at how they moved last week.
On a per-share basis, the Denver-based company said it had profit of 3 cents. The potash and fertilizer producer posted revenue of $36.5 million in the period. Its adjusted revenue was $30.3 million. The ...
In the week ending October 26, overall urea prices in the locations discussed below were broadly negative, indicating a slump in the urea uptake in those markets. With fertilizers, there is seasonality in sales for companies (XLB) such as CF Industries (CF), Mosaic (MOS), Nutrien (NTR), and Intrepid Potash (IPI). Therefore, a drop in prices this time of the year isn’t very surprising.
Last week, the overall agribusiness sector was broadly negative with the VanEck Vectors Agribusiness ETF (MOO) declining by ~4.9% from the week ending October 19 to the week ending October 26. The overall fertilizer sector was also in negative territory with five of the six stocks discussed below ending in the negative territory week-over-week.
Potash prices continued to increase in the week ending October 19 at all four of the locations discussed below. Potash prices are strong, which benefits companies (XLB) like Nutrien (NTR), Mosiac (MOS), and Intrepid Potash (IPI).
Last week, which ended October 12, fertilizer affordability was unchanged week-over-week. The Fertilizer Affordability Index, as you can see in the above chart, was unchanged at 0.85x but fell from the peak of 0.92x in the week ended September 14. The index is calculated by taking the fertilizer price index over the crop index.
Last week, which ended October 12, was a big negative for the overall market and the agribusiness sector. The VanEck Vectors Agribusiness ETF (MOO) fell 3.5% from October 5–12, and the S&P 500 Index fell 4.1%.
On October 10, the VanEck Vectors Agribusiness ETF (MOO), which represents the broader agribusiness sector, fell about 2.9% to end at $63.2 per unit, while the broader US market index, the S&P 500, declined by 3.2% during the day.
The fertilizer affordability index remained elevated last week relative to levels observed since January 2016, which essentially means that fertilizer affordability compared to levels in the last two years was lower last week. Last week, the fertilizer affordability index level was slightly up week-over-week to 0.85 from 0.84 a week ago. The affordability index is essentially calculated using the plant nutrient price index for the numerator and the crop price index in the denominator.
Last week, potash prices recorded a strong weekly gain at the four locations discussed below. Potash prices continued to show strength, which increased optimism for companies (NANR) such as Nutrien (NTR), Intrepid Potash (IPI), Israel Chemicals (ICL), and the Mosaic Company (MOS).
The VanEck Vector Agribusiness ETF (MOO) fell 14 basis points between its closing on September 28 and its closing on October 5. However, the overall fertilizer sector appeared to be positive.
In the week ending September 28, granular potash prices were broadly higher, while standard potash prices were flat week-over-week. Potash prices have been strong in 2018. Last week, potash prices made new highs. Higher prices are positive for companies (NANR) like Mosaic (MOS), Nutrien (NTR), Israel Chemicals (ICL), and Intrepid Potash (IPI).
In the week ending September 21, fertilizer affordability eased after increasing the previous week. Mosaic (MOS) issues the Fertilizer Affordability Index. A level below one indicates that fertilizer affordability was higher than in 2005—the base year.
Fertilizer affordability affects sales volume for fertilizer companies (NANR) such as Mosaic (MOS), Nutrien (NTR), CF Industries (CF), and Intrepid Potash (IPI). Lower affordability negatively impacts demand, and fertilizer affordability has been deteriorating over the past few weeks.
DAP (diammonium phosphate) prices have been rising lately, and prices in some areas have reached three-year highs. However, last week it seems that DAP prices may have been reversing, especially in places like Morocco, Saudi Arabia, India, and China. Companies (XLB) such as Mosiac (MOS), Nutrien (NTR), Israel Chemicals (ICL), and Intrepid Potash (IPI) benefit when prices rise.
The week ending September 14 was broadly positive for the agribusiness sector. The VanEck Vectors Agribusiness ETF (MOO) rose 2.8% week-over-week, and most of the fertilizer stocks also ended in the positive territory. During this period, the S&P 500 Index (SPY) rose 1.6% week-over-week.
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Last week, which ended September 7, the VanEck Vectors Agribusiness ETF (MOO) fell ~1.8%, while the broader market S&P 500 Index fell ~1%. Overall, fertilizer stocks also took a beating.
Fertilizer affordability has been negatively impacted by the direction in which fertilizer prices have been moving in relation to the prices of key fertilizer-consuming crops such as corn, wheat, and soybeans. Lower fertilizer affordability can weigh on companies (XLB) such as Mosaic (MOS), Intrepid Potash (IPI), CVR Partners (UAN), and CF Industries (CF). The index, issued by Mosaic, has been rising lately, which is a similar pattern to the recent movement of fertilizer prices.