NPK, SOY and CRP: 3 TSX agriculture stocks to buy under $10

3 min read | April 30, 2022 12:39 AM AEST | By Kajal Jain

NPK, SOY and CRP: 3 TSX agriculture stocks to buy under $10 — Image source: © 2022 Kalkine Media®

Highlights

Agriculture and food have become a hot topic in 2022 as prices of agriculture inputs and related commodities rose sharply.

Some TSX agricultural stocks like Verde Agritech (TSX:NPK), SunOpta (TSX:SOY) and Ceres Global (TSX:CRP) seem to have gain some attention.

NPK stock rocketed by about 876 per cent in nine months.

Agriculture and food have become a hot topic in 2022 as prices of agriculture inputs and related commodities rose sharply. As a result, some TSX agricultural stocks like Verde Agritech (TSX:NPK), SunOpta (TSX:SOY) and Ceres Global (TSX:CRP) seem to have gained some attention.

The war-related disruptions in Russia and Ukraine continue to interrupt the supply of agricultural products as both the nations are major exporters to the world market.

That said, let us talk about these TSX agriculture stocks, all priced under C$ 10, in detail.

Verde Agritech Plc (TSX:NPK)

Verde Agritech, on Tuesday, April 26, launched Bio Revolution technology, which is said to allow the incorporation of microorganisms into the company’s crop nutrients, Forte® and BAKS®.

Verde’s revenue swelled by 391 per cent year-over-year (YoY) to C$ 10.85 million in the fourth quarter of FY2021.

Notably, the agritech company posted a net profit of C$ 1.87 million in the latest quarter against a loss of 0.19 million in Q4 2020.

NPK stock rocketed by about 876 per cent in nine months.

Verde Agritech (TSX:NPK)’s Q4 FY2021 net income

SunOpta Inc (TSX: SOY)

SunOpta offers plant-based and fruit-based food and beverages. The company recently opened a new global headquarter and innovation centre of 65,000 square feet in Minn.

SunOpta’s revenue amounted to US$ 204.23 million in Q4 2021 compared to US$ 205.55 million in 2020. However, the food company incurred a net loss of US$ 1.86 million in the latest quarter, down from US$ 73.06 million a year ago.

SOY scrip plunged by some 57 per cent in a year.

Also read: Is Well Health (TSX:WELL) a healthcare stock to buy right now?

Ceres Global Ag Corp (TSX:CRP)

Ceres Global saw its revenue increase to US$ 304.79 million in Q2 FY2022, significantly up from US$ 175.26 million in Q2 2021.

The Minneapolis-based player’s net income also grew from US$ 1.32 million in Q2 2021 to US$ 4.03 million in the latest quarter.

CRP stock shot up by about three per cent in 12 months.

Bottomline

Canadians looking for agricultural stocks could explore Verde Agritech, SunOpta and Ceres Global as they can, in the right conditions, help them reap benefits in the future.

Besides price rises, though, investors should ideally consider macroeconomic factors and the company’s business to avoid losses.

Also read: Air Canada (TSX:AC) posts operating revenue of $2.5B in Q1. A buy?

Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

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