Scotiabank Lowers Mosaic (NYSE:MOS) Price Target to $35.00

Mosaic (NYSE:MOS) had its price target decreased by equities researchers at Scotiabank from $36.00 to $35.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s target price would indicate a potential upside of 30.69% from the stock’s previous close.

Several other research analysts have also weighed in on MOS. Morgan Stanley lowered their price objective on Mosaic from $35.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Canadian Imperial Bank of Commerce lowered their price target on Mosaic from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. The Goldman Sachs Group raised their price objective on Mosaic from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Wolfe Research decreased their target price on shares of Mosaic from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Barclays lowered their target price on shares of Mosaic from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Tuesday, December 9th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.94.

Mosaic Price Performance

Mosaic stock opened at $26.78 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.47 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $27.33 and a 200 day moving average price of $28.63. Mosaic has a 12-month low of $22.36 and a 12-month high of $38.23. The stock has a market cap of $8.50 billion, a P/E ratio of 15.85, a PEG ratio of 1.51 and a beta of 0.95.

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

Institutional Investors Weigh In On Mosaic

Large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its stake in shares of Mosaic by 27.8% in the first quarter. NewEdge Advisors LLC now owns 1,749 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 380 shares in the last quarter. United Services Automobile Association purchased a new position in Mosaic in the first quarter valued at $201,000. Empowered Funds LLC grew its stake in Mosaic by 170.5% during the 1st quarter. Empowered Funds LLC now owns 54,176 shares of the basic materials company’s stock worth $1,463,000 after purchasing an additional 34,151 shares in the last quarter. Woodline Partners LP increased its holdings in Mosaic by 40.7% during the 1st quarter. Woodline Partners LP now owns 26,836 shares of the basic materials company’s stock worth $725,000 after purchasing an additional 7,760 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in Mosaic by 169.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 956 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 601 shares in the last quarter. 77.54% of the stock is owned by hedge funds and other institutional investors.

About Mosaic

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.