5 Cheap Canadian Stocks to Buy

4. Nutrien Ltd. (NYSE:NTR)

Average Analyst Price Target: $91.61

Upside Potential as of April 2: 24.05%

Number of Hedge Fund Holders: 40

Nutrien Ltd. (NYSE:NTR) is a fertilizers and agricultural chemicals company based in Saskatoon, Canada. The company provides crop inputs and services.

HSBC analysts have a Hold rating on Nutrien Ltd. (NYSE:NTR) shares as of February 21.

The company is among the largest fertilizer companies in the world, with immense dominance in potash and phosphates. Nutrien Ltd. (NYSE:NTR) has an EV/Revenue multiple of 0.11 and a P/E ratio of 7.74. Analysts have an average price target of $91.61 on the shares.

Nutrien Ltd. (NYSE:NTR) had 40 hedge funds long its stock in the fourth quarter. Their total stake value was $755 million.

ClearBridge Investments, an investment management company, mentioned Nutrien Ltd. (NYSE:NTR) in its third-quarter 2022 investor letter. Here’s what the firm said:

“However, we believe this is exactly the kind of environment that separates the highest-quality companies from their peers and allows them to strengthen their competitive positioning. For example, Nutrien Ltd. (NYSE:NTR), a Canadian fertilizer company, was a top contributor during the quarter. While the war in Ukraine and economic sanctions on Russia have significantly reduced the output of two of the world’s largest agricultural producers, Nutrien has benefited from a strong global agricultural cycle and from farmers seeking to increase their output and capitalize on higher agricultural prices.”