Mosaic (NYSE:MOS) Price Target Cut to $35.00 by Analysts at Scotiabank

Mosaic (NYSE:MOS) had its price objective reduced by Scotiabank from $36.00 to $35.00 in a research note released on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the basic materials company’s stock.

Several other research analysts have also commented on MOS. JPMorgan Chase & Co. lowered shares of Mosaic from a “neutral” rating to an “underweight” rating and set a $24.00 price objective for the company. in a research note on Thursday, February 26th. BNP Paribas Exane reduced their price target on Mosaic from $43.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Zacks Research raised Mosaic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 9th. Canadian Imperial Bank of Commerce dropped their target price on Mosaic from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Finally, HSBC decreased their price target on Mosaic from $35.00 to $26.00 and set a “hold” rating for the company in a research note on Monday, November 24th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.94.

Mosaic Trading Down 1.2%

Shares of NYSE MOS opened at $27.50 on Monday. Mosaic has a 1-year low of $22.36 and a 1-year high of $38.23. The business has a fifty day moving average price of $27.28 and a 200 day moving average price of $28.67. The stock has a market capitalization of $8.73 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.47.

Mosaic (NYSE:MOS) last posted its earnings results on Tuesday, February 24th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.26). The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Mosaic had a net margin of 4.49% and a return on equity of 5.80%. Mosaic’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. Equities research analysts expect that Mosaic will post 2.04 EPS for the current fiscal year.

Mosaic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 9th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.88 dividend on an annualized basis and a yield of 3.2%. Mosaic’s payout ratio is presently 52.07%.

Hedge Funds Weigh In On Mosaic

Several institutional investors have recently made changes to their positions in MOS. AQR Capital Management LLC boosted its stake in Mosaic by 632.6% during the 3rd quarter. AQR Capital Management LLC now owns 8,447,324 shares of the basic materials company’s stock valued at $291,348,000 after purchasing an additional 7,294,205 shares in the last quarter. Norges Bank acquired a new position in shares of Mosaic in the 2nd quarter worth $158,085,000. Bank of New York Mellon Corp raised its position in shares of Mosaic by 102.3% during the third quarter. Bank of New York Mellon Corp now owns 7,701,610 shares of the basic materials company’s stock worth $267,092,000 after purchasing an additional 3,894,947 shares during the period. Invesco Ltd. lifted its holdings in shares of Mosaic by 28.9% during the fourth quarter. Invesco Ltd. now owns 11,840,398 shares of the basic materials company’s stock valued at $285,235,000 after purchasing an additional 2,653,969 shares during the last quarter. Finally, Merewether Investment Management LP acquired a new position in shares of Mosaic in the 2nd quarter valued at $72,380,000. 77.54% of the stock is owned by hedge funds and other institutional investors.

Mosaic Company Profile

Mosaic Co is one of the world’s leading producers and marketers of concentrated phosphate and potash crop nutrients. The company’s primary business activities center on the extraction, processing and distribution of phosphate rock, phosphate-based fertilizers and potash products. These core nutrients are essential components in modern agriculture, supporting crop yields and soil health across a range of farming applications.

In its phosphate segment, Mosaic operates mining and production facilities that convert phosphate rock into concentrated phosphates, finished phosphate fertilizers and feed phosphates for animal nutrition.