Mosaic (NYSE:MOS) Price Target Cut to $38.00 by Analysts at Scotiabank

Mosaic (NYSE:MOS) had its price target lowered by research analysts at Scotiabank from $40.00 to $38.00 in a report issued 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 30.90% from the stock’s current price.

MOS has been the topic of several other research reports. Mizuho reduced their price target on shares of Mosaic from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday. The Goldman Sachs Group dropped their price target on shares of Mosaic from $54.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. Wolfe Research began coverage on Mosaic in a research note on Friday, March 1st. They issued an “outperform” rating and a $39.00 price objective on the stock. TheStreet cut Mosaic from a “b-” rating to a “c+” rating in a research note on Tuesday, February 6th. Finally, Piper Sandler downgraded Mosaic from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $42.00 to $32.00 in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Mosaic has a consensus rating of “Hold” and an average target price of $38.79.

Mosaic Trading Up 1.2 %

Shares of NYSE:MOS traded up $0.35 during mid-day trading on Monday, reaching $29.03. 3,666,349 shares of the company were exchanged, compared to its average volume of 4,993,494. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 12.37 and a beta of 1.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.16 and a quick ratio of 0.51. Mosaic has a 1 year low of $27.83 and a 1 year high of $42.81. The firm’s 50-day simple moving average is $31.41 and its 200 day simple moving average is $33.02.

Mosaic (NYSE:MOS) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Mosaic had a net margin of 6.07% and a return on equity of 8.23%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The company’s quarterly revenue was down 25.7% compared to the same quarter last year. Equities research analysts forecast that Mosaic will post 2.78 EPS for the current year.

Hedge Funds Weigh In On Mosaic

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in Mosaic in the fourth quarter worth about $107,893,000. Assenagon Asset Management S.A. lifted its holdings in shares of Mosaic by 8,776.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 627,654 shares of the basic materials company’s stock valued at $22,344,000 after buying an additional 620,583 shares during the last quarter. Northern Trust Corp increased its stake in shares of Mosaic by 7.5% during the 3rd quarter. Northern Trust Corp now owns 6,107,545 shares of the basic materials company’s stock worth $217,429,000 after purchasing an additional 424,063 shares during the last quarter. AustralianSuper Pty Ltd lifted its stake in shares of Mosaic by 23.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 2,083,150 shares of the basic materials company’s stock valued at $74,431,000 after purchasing an additional 391,191 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Mosaic by 68.3% during the 1st quarter. BNP Paribas Financial Markets now owns 865,116 shares of the basic materials company’s stock valued at $28,082,000 after acquiring an additional 351,046 shares during the last quarter. Institutional investors and hedge funds own 77.54% of the company’s stock.

Mosaic Company Profile

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.