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Yara (YARIY) Northern Lights Ink CO2 Transport & Storage Deal
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Yara International (YARIY - Free Report) has inked a legally binding commercial agreement with Northern Lights for the first cross-border CO2 transportation and storage. Located in the Netherlands, Yara Sluiskil is one of the world’s largest ammonia and mineral fertilizer plants. Northern Lights will transport the liquefied CO2 from the plant to permanent storage on the Norwegian continental shelf, 2.6 kilometers beneath the seabed. Yara intends to cut its yearly CO2 emissions from ammonia production at Yara Sluiskil by 800,000 tons.
This is an important step for Yara toward decarbonizing its ammonia production, product lines and the food value chain as a whole. The planned reduction of 800,000 tons of CO2 in Yara Sluiskil is equivalent to 0.5% of total yearly emissions in the Netherlands. Yara will remove about 12 million tons of CO2 from its Sluiskil production over the next 15 years.
Clean ammonia has the potential to decarbonize difficult-to-abate sectors such as shipping, chemical manufacturing and power generation. According to Magnus Ankarstrand, president of Yara Clean Ammonia, it will enable the hydrogen economy. He said that clean ammonia and hydrogen should be used to decarbonize Europe with immediate effect.
Shares of Yara International have lost 25.5% over the past year against a 32.9% decline of its industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Yara currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Denison Mines Corp. (DNN - Free Report) , Axalta Coating Systems Ltd. (AXTA - Free Report) and The Andersons Inc. (ANDE - Free Report) .
Denison Mines has a projected earnings growth rate of 100% for the current year. It currently carries a Zacks Rank #1 (Strong Buy). DNN delivered a trailing four-quarter earnings surprise of roughly 225%, on average. The stock is up around 60.9% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axalta has a projected earnings growth rate of 5.4% for the current year. It currently carries a Zacks Rank #1. AXTA delivered a trailing four-quarter earnings surprise of roughly 6.7%, on average. The stock is up around 19.6% in a year.
Andersons currently carries a Zacks Rank #2. The stock has gained roughly 36.8% in the past year. ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average.
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Yara (YARIY) Northern Lights Ink CO2 Transport & Storage Deal
Yara International (YARIY - Free Report) has inked a legally binding commercial agreement with Northern Lights for the first cross-border CO2 transportation and storage. Located in the Netherlands, Yara Sluiskil is one of the world’s largest ammonia and mineral fertilizer plants. Northern Lights will transport the liquefied CO2 from the plant to permanent storage on the Norwegian continental shelf, 2.6 kilometers beneath the seabed. Yara intends to cut its yearly CO2 emissions from ammonia production at Yara Sluiskil by 800,000 tons.
This is an important step for Yara toward decarbonizing its ammonia production, product lines and the food value chain as a whole. The planned reduction of 800,000 tons of CO2 in Yara Sluiskil is equivalent to 0.5% of total yearly emissions in the Netherlands. Yara will remove about 12 million tons of CO2 from its Sluiskil production over the next 15 years.
Clean ammonia has the potential to decarbonize difficult-to-abate sectors such as shipping, chemical manufacturing and power generation. According to Magnus Ankarstrand, president of Yara Clean Ammonia, it will enable the hydrogen economy. He said that clean ammonia and hydrogen should be used to decarbonize Europe with immediate effect.
Shares of Yara International have lost 25.5% over the past year against a 32.9% decline of its industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Yara currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Denison Mines Corp. (DNN - Free Report) , Axalta Coating Systems Ltd. (AXTA - Free Report) and The Andersons Inc. (ANDE - Free Report) .
Denison Mines has a projected earnings growth rate of 100% for the current year. It currently carries a Zacks Rank #1 (Strong Buy). DNN delivered a trailing four-quarter earnings surprise of roughly 225%, on average. The stock is up around 60.9% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axalta has a projected earnings growth rate of 5.4% for the current year. It currently carries a Zacks Rank #1. AXTA delivered a trailing four-quarter earnings surprise of roughly 6.7%, on average. The stock is up around 19.6% in a year.
Andersons currently carries a Zacks Rank #2. The stock has gained roughly 36.8% in the past year. ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average.