CF Industries Holdings, Inc. CF announced that it has restarted its ammonia plants at the Donaldsonville Complex in Louisiana. This will be followed by the start-up of product upgrade plants including urea, nitric acid and urea ammonium nitrate.

CF Industries safely shut down all production units at the facility on Aug 28, 2021, to prevent impacts from Hurricane Ida. Shipping will continue on an as available basis.

Shares of CF Industries have gained 35.5% in the past year compared with a 49% rise of the industry.

Image Source: Zacks Investment Research

CF Industries, in its last earnings call, stated that it expects nitrogen pricing to be positive as higher economic activities, the need to replenish coarse grains stocks globally and increased energy prices in Europe and Asia are expected to sustain a tighter global nitrogen supply as well as demand balance into 2023.

The global demand for nitrogen is also strong, the company noted. It expects strong global demand for coarse grains to contribute to sustained low global stocks into 2022, supporting strong nitrogen demand in the upcoming years. An increase in economic activities has also contributed to higher industrial consumption of nitrogen products.

CF Industries Holdings, Inc. Price and Consensus

CF Industries Holdings, Inc. price-consensus-chart | CF Industries Holdings, Inc. Quote

Zacks Rank & Key Picks

CF Industries currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Nucor Corporation NUE, Dow Inc. DOW and Cabot Corporation CBT.

Nucor has a projected earnings growth rate of around 478.7% for the current year. The company’s shares have soared 140.2% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Dow has an expected earnings growth rate of around 403% for the current year. The company’s shares have gained 20.6% in the past year. It currently carries a Zacks Rank #2 (Buy).

Cabot has an expected earnings growth rate of around 138.5% for the current fiscal. The company’s shares have rallied 31.6% in the past year. It currently carries a Zacks Rank #2.

Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative.