CF Industries (CF)

• Market cap: $12.6B
• 1 day: 0.55%
• 5 days: 4.79%
• 1 month: -1.68%
• 3 months: -19.22%
• 6 months: -9.95%
• Year to date: -11.99%
• 1 year: -4.14%
• 5 years: 176.60%
• 10 years: 32.22%
• Sector: Materials
• Industry: Agricultural Inputs

About: CF Industries is a leading producer and distributor of nitrogen, which is primarily used in fertilizers. The company operates nitrogen manufacturing plants primarily in North America. CF also produces nitrogen in the United Kingdom and holds a joint venture interest in a nitrogen production facility in Trinidad and Tobago. CF makes nitrogen primarily using low-cost US natural gas as its feedstock, making CF one of the lowest-cost nitrogen producers globally. The company is also investing in carbon-free blue and green ammonia, which can be used an alternative fuel to hydrogen or as a means to transport hydrogen.

Employees: 2,800

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

133% more first-time investments, than exits

New positions opened: 140 | Existing positions closed: 60

60% more funds holding in top 10

Funds holding in top 10: 5 [Q3] → 8 (+3) [Q4]

10% more funds holding

Funds holding: 695 [Q3] → 767 (+72) [Q4]

2% more repeat investments, than reductions

Existing positions increased: 272 | Existing positions reduced: 266

2% more capital invested

Capital invested by funds: $13.8B [Q3] → $14B (+$228M) [Q4]

0.55% more ownership

Funds ownership: 89.29% [Q3] → 89.84% (+0.55%) [Q4]

47% less call options, than puts

Call options by funds: $277M | Put options by funds: $524M

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $75 1% downside
• Avg. target: $86 14% upside
• High target: $115 52% upside

9 analyst ratings

• positive: 1 11%
• neutral: 7 78%
• negative: 1 11%

Barclays Benjamin Theurer 44% 1-year accuracy 15 / 34 met price target	15% upside $87	Equal-Weight Maintained	22 Apr 2025
UBS John Roberts 8% 1-year accuracy 3 / 39 met price target	5% upside $79	Neutral Maintained	16 Apr 2025
Morgan Stanley Vincent Andrews 33% 1-year accuracy 3 / 9 met price target	6% upside $80	Equal-Weight Maintained	11 Apr 2025
Scotiabank Ben Isaacson 35% 1-year accuracy 6 / 17 met price target	7% upside $81	Sector Perform Upgraded	9 Apr 2025
Goldman Sachs Duffy Fischer 35% 1-year accuracy 7 / 20 met price target	14% upside $86	Neutral Initiated	13 Mar 2025