Now that NTR has announced, and results were not a disaster, at what price would you consider a full position. Last price I saw in the archives said 65 as good entry point. It's now sub 63, so .5 position now and add into weakness, or wait it out for now?
Appreciate your help.
NTR reported a revenue decline of 13% to $10.2B, missing the estimate of $10.7B, EPS came at $2.34, beating expectations of $2.10. The company raised the full-year outlook for global potash demand across key markets. However, EBITDA guidance was also lowered to $1.5B - $1.7B from $1.65B - $1.85% in the last earning release, largely due to the ongoing market instability in Brazil and delayed planting in North America. Overall, a mixed quarter, not strong enough to call a bottom yet for the industry, but given where it is trading now, the scenario of an industry slowdown is already priced in somewhat (although could go down further), we are okay to add some here and leave room to add below $60 if the industry shows a clear path to recovery, as it is hard to call a full-position with a name that operates in cyclical industry, as practically no one can call the bottom in such scenario.