Mosaic (NYSE:MOS) Price Target Raised to $42.00

Mosaic (NYSE:MOS) had its price target hoisted by Scotiabank from $34.00 to $42.00 in a research report report published on Wednesday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the basic materials company’s stock.

Several other research analysts also recently commented on MOS. BNP Paribas upgraded shares of Mosaic to a “strong-buy” rating in a report on Wednesday, April 9th. Wells Fargo & Company raised their price target on Mosaic from $28.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. StockNews.com raised Mosaic from a “hold” rating to a “buy” rating in a research report on Tuesday. UBS Group increased their target price on Mosaic from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Finally, Barclays raised Mosaic from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $27.00 to $33.00 in a report on Wednesday, March 19th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Mosaic has an average rating of “Moderate Buy” and a consensus price target of $34.58.

Mosaic Stock Performance

MOS opened at $35.21 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.49 and a current ratio of 1.19. The company has a market cap of $11.16 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09. The stock has a 50-day moving average of $28.06 and a 200-day moving average of $26.79. Mosaic has a 52-week low of $22.36 and a 52-week high of $35.32.

Mosaic (NYSE:MOS) last announced its earnings results on Tuesday, May 6th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. Mosaic had a return on equity of 6.00% and a net margin of 3.24%. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts forecast that Mosaic will post 2.04 earnings per share for the current fiscal year.

Mosaic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.88 dividend on an annualized basis and a yield of 2.50%. Mosaic’s payout ratio is 75.86%.

Institutional Investors Weigh In On Mosaic

A number of institutional investors and hedge funds have recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in Mosaic during the 1st quarter valued at about $26,000. Brooklyn Investment Group lifted its holdings in Mosaic by 110.8% in the fourth quarter. Brooklyn Investment Group now owns 1,117 shares of the basic materials company’s stock valued at $27,000 after buying an additional 587 shares during the period. Compagnie Lombard Odier SCmA bought a new position in Mosaic in the first quarter valued at approximately $27,000. Allworth Financial LP grew its holdings in Mosaic by 102.3% during the 1st quarter. Allworth Financial LP now owns 1,062 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 537 shares during the period. Finally, R Squared Ltd acquired a new stake in Mosaic during the 4th quarter worth $33,000. Institutional investors own 77.54% of the company’s stock.

About Mosaic

The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients in North America and internationally. The company operates through three segments: Phosphates, Potash, and Mosaic Fertilizantes. It owns and operates mines, which produce concentrated phosphate crop nutrients, such as diammonium phosphate, monoammonium phosphate, and ammoniated phosphate products; and phosphate-based animal feed ingredients primarily under the Biofos and Nexfos brand names, as well as produces a double sulfate of potash magnesia product under K-Mag brand name.