Scotiabank Raises Mosaic (NYSE:MOS) Price Target to $42.00

Mosaic (NYSE:MOS) had its price objective increased by stock analysts at Scotiabank from $34.00 to $42.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s target price would indicate a potential upside of 21.21% from the stock’s current price.

MOS has been the subject of a number of other reports. CIBC lifted their price target on shares of Mosaic from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. JPMorgan Chase & Co. lifted their price target on shares of Mosaic from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Mizuho lowered their price target on shares of Mosaic from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Barclays raised shares of Mosaic from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $27.00 to $33.00 in a research report on Wednesday, March 19th. Finally, Oppenheimer lifted their price target on shares of Mosaic from $33.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.58.

Mosaic Trading Up 2.9%

NYSE:MOS opened at $34.65 on Wednesday. The company has a 50-day moving average price of $27.85 and a 200-day moving average price of $26.74. Mosaic has a 12 month low of $22.36 and a 12 month high of $34.78. The company has a current ratio of 1.19, a quick ratio of 0.49 and a debt-to-equity ratio of 0.27. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 1.42 and a beta of 1.09.

Mosaic (NYSE:MOS) last issued its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. Mosaic had a net margin of 3.24% and a return on equity of 6.00%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the company posted $0.65 EPS. Mosaic’s revenue was down 2.2% on a year-over-year basis. Equities analysts predict that Mosaic will post 2.04 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MOS. NBC Securities Inc. purchased a new position in shares of Mosaic during the first quarter valued at approximately $26,000. Brooklyn Investment Group raised its holdings in shares of Mosaic by 110.8% during the fourth quarter. Brooklyn Investment Group now owns 1,117 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 587 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Mosaic during the first quarter valued at approximately $27,000. Allworth Financial LP raised its holdings in shares of Mosaic by 102.3% during the first quarter. Allworth Financial LP now owns 1,062 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 537 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Mosaic during the fourth quarter valued at approximately $33,000. 77.54% of the stock is owned by hedge funds and other institutional investors.

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.