The Globe and Mail reports in its Saturday, Aug. 10, edition that Nutrien stood out from most other stocks during the recent bout of volatility. The Globe's David Berman writes that while the broader market slumped, then rebounded, Nutrien continued to slide, touching a fresh 3-1/2-year low on Thursday. For investors who prefer out-of-favour stocks, though, Mr. Berman says Nutrien is worth a closer look. Nutrien's share price has dropped by over 50 per cent from its peak in 2022, indicating a significant discount from its previous high levels. Despite this, it continues to generate substantial cash. The dividend yield has increased to 4.6 per cent, providing a compelling reason to consider purchasing the stock at its current low levels and waiting for a potential recovery. Nutrien's biggest challenges stem from a difficult environment that has also ensnared competitors. The chief culprit: low corn and soybean prices. Mr. Berman says the good news, and one of the main points supporting the bullish case for Nutrien, is that current fertilizer prices may mark the lows. Mr. Berman adds that Nutrien's beaten-up share price offers a relatively low-risk bet on the stock.
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