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

NUTRIEN LTD.

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Nutrien : North American ammonium nitrate laws best in world, Nutrien CEO says

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08/11/2020 | 01:32pm EDT

WINNIPEG, Manitoba (Reuters) - North America's regulations for handling ammonium nitrate, a potentially explosive product used in fertilizer and in the mining industry, are the strictest in the world, the chief executive officer of Canadian fertilizer producer Nutrien Ltd said on Tuesday.

An ammonium nitrate stockpile exploded last week in Beirut killing at least 171 people, injuring 6,000 and leaving a quarter of a million people homeless.

Nutrien, the world's biggest fertilizer maker by capacity, produces ammonium nitrate at Redwater, Alberta, and sells it to customers in the mining industry, CEO Chuck Magro said in an interview. The company does not sell ammonium nitrate for agricultural use, and the industrial chemical is a small part of the company's overall business, he said.

"I strongly believe that what we're doing here to produce this product, that is needed for the mining industry, is very well-handled in Canada," Magro said.

Some of the world's deadliest industrial accidents have involved ammonium nitrate, including a 2013 explosion at a Texas fertilizer plant.

The U.S. Chemical Safety Board, an independent federal agency, said in a statement on Friday that regulatory changes in the United States are necessary to prevent future catastrophes.

Nutrien's ammonium nitrate is stored under 24-hour surveillance and monitored by heat detection systems. There are restrictions on how much can be stored in a location, Magro said.

Nutrien spokesman Will Tigley said the company does not store ammonium nitrate outside its plant and has tracing protocols for all shipments.

Lebanese authorities said 2,750 tonnes of the industrial chemical had been stored for six years at Beirut's port without safety measures.

Experts say the Beirut explosion should be a wake-up call for countries regarding the dangers of ammonium nitrate.

Quantity, ventilation and proximity to flammables are seen as critical, as is distance from population centers.

By Rod Nickel


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Financials (USD)
Sales 2020 19 533 M - -
Net income 2020 923 M - -
Net Debt 2020 9 389 M - -
P/E ratio 2020 25,6x
Yield 2020 4,33%
Capitalization 23 632 M 23 627 M -
EV / Sales 2020 1,69x
EV / Sales 2021 1,61x
Nbr of Employees 22 300
Free-Float 99,2%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 48,70 $
Last Close Price 41,52 $
Spread / Highest target 49,0%
Spread / Average Target 17,3%
Spread / Lowest Target -1,26%
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Managers
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
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