Yahoo Finance 5 Top Stocks to Buy in October [PREMIUM PICKS]
Written by Iain Butler at The Motley Fool Canada
Premium content from Motley Fool Stock Advisor Canada
If you have money to put to work in the market this month, we think these five companies are some of the best stocks to buy now.
“Best Buys Now” Pick #1:
Nutrien (TSX:NTR)
Nutrien (TSX: NTR) is a leading provider of fertilizers such as potash and nitrogen. The company also owns a global network of retail outlets where its fertilizers are distributed, along with many other goods and services that go into improving agricultural productivity.
As with all commodity producers, there are times when Nutrien looks like an incredibly attractive buying opportunity, and we think now is one of those times.
While the retail network offers a relatively steady-as-she-goes business, the fertilizer part of Nutrien is highly susceptible to volatile commodity markets. Potash especially drives the bus, and over the past year or so, we’re of the mind the market has taken an overly short-term stance on this front.
The simple take on all of this is that the world isn’t creating more arable land. Therefore, to feed a growing population, the arable land that exists needs to become more productive. That’s where fertilizers come in, and while short-term whimsy can knock this situation around, there’s no escaping that simple take over the long term.
This company has been around for decades and will be for decades more. And buying shares when the market is more focused on short-term whimsy than the long-term inevitability makes good, Foolish sense to us.
“Best Buys Now” Pick #2
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The post 5 Top Stocks to Buy in October [PREMIUM PICKS] appeared first on The Motley Fool Canada.
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Fool contributor Iain Butler has positions in Nutrien. The Motley Fool recommends Nutrien. The Motley Fool has a disclosure policy.
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