Stock analysts at HSBC Holdings plc began coverage on shares of Agrium Inc. (NYSE:AGU) (TSE:AGU) in a report released on Wednesday. The brokerage set a “buy” rating on the basic materials company’s stock.

A number of other brokerages also recently commented on AGU. TD Securities upgraded Agrium from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $102.00 to $134.00 in a research report on Thursday, September 28th. BMO Capital Markets reiterated a “hold” rating and set a $100.00 price objective on shares of Agrium in a research report on Friday, October 6th. Royal Bank Of Canada lifted their price objective on Agrium from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, September 15th. OTR Global upgraded Agrium to a “neutral” rating in a research report on Tuesday, September 12th. Finally, Cowen and Company set a $99.00 price objective on Agrium and gave the stock a “buy” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $110.40.

Shares of Agrium (AGU) opened at 105.78 on Wednesday. Agrium has a one year low of $87.78 and a one year high of $111.88. The stock has a market capitalization of $14.62 billion, a PE ratio of 25.52 and a beta of 0.62. The stock’s 50 day moving average price is $103.05 and its 200 day moving average price is $96.57.

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Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in shares of Agrium by 1.5% in the 2nd quarter. Royal Bank of Canada now owns 7,370,940 shares of the basic materials company’s stock valued at $666,995,000 after buying an additional 112,157 shares during the period. Dodge & Cox raised its holdings in shares of Agrium by 33.2% in the 2nd quarter. Dodge & Cox now owns 5,644,826 shares of the basic materials company’s stock valued at $510,800,000 after buying an additional 1,407,700 shares during the period. Vanguard Group Inc. raised its holdings in shares of Agrium by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 3,294,304 shares of the basic materials company’s stock valued at $298,101,000 after buying an additional 156,575 shares during the period. FMR LLC raised its holdings in shares of Agrium by 7.8% in the 1st quarter. FMR LLC now owns 2,919,193 shares of the basic materials company’s stock valued at $278,606,000 after buying an additional 212,287 shares during the period. Finally, TD Asset Management Inc. raised its holdings in shares of Agrium by 4.9% in the 2nd quarter. TD Asset Management Inc. now owns 2,276,598 shares of the basic materials company’s stock valued at $206,028,000 after buying an additional 107,154 shares during the period. Hedge funds and other institutional investors own 66.41% of the company’s stock.

About Agrium

Agrium Inc is a retailer of agricultural products and services in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay and a multi-national producer and wholesale marketer of nutrients for agricultural and industrial markets. The Company’s segments include Retail and Wholesale. As of December 31, 2016, its Retail business unit marketed crop nutrients, crop protection products, seed, merchandise, application and other agronomic services through 1,500 retail locations in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay.

Analyst Recommendations for Agrium (NYSE:AGU)

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