Mosaic Co (MOS) Lifted to “Buy” at Zacks Investment Research
Mosaic Co (NYSE:MOS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $25.00 price target on the stock.
According to Zacks, “Mosaic saw its profits surge year over year in the third quarter, driven by strong operational performance and healthy demand for its products. Both revenues and adjusted earnings topped the respective Zacks Consensus Estimate. Mosaic is well placed to gain from strong global demand for fertilizers. Moreover, the acquisition of Vale Fertilizantes will help the company to capitalize on the rapidly growing Brazilian agricultural market. The buyout is also expected to deliver significant synergies. Mosaic should also benefit from its cost reduction measures and its efforts to boost production capacity.”
A number of other brokerages have also issued reports on MOS. Royal Bank Of Canada reissued a “hold” rating and set a $26.00 target price on shares of Mosaic in a research note on Wednesday, July 12th. Citigroup Inc. reduced their target price on shares of Mosaic from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, July 12th. BidaskClub lowered Mosaic from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. BMO Capital Markets reiterated a “market perform” rating and issued a $25.00 target price (down previously from $26.00) on shares of Mosaic in a research report on Wednesday, August 2nd. Finally, Cleveland Research upgraded Mosaic from a “neutral” rating to a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of C$23.99.
Mosaic (NYSE:MOS) last announced its quarterly earnings data on Tuesday, October 31st. The company reported C$0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.25 by C$0.18. Mosaic had a net margin of 11.07% and a return on equity of 9.18%. The company had revenue of C$1.98 billion for the quarter, compared to the consensus estimate of C$1.93 billion. During the same period in the prior year, the firm posted $0.41 EPS. Mosaic’s revenue for the quarter was up 1.7% on a year-over-year basis.
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In other news, Director Robert L. Lumpkins acquired 7,000 shares of Mosaic stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average cost of C$19.94 per share, with a total value of C$139,580.00. Following the purchase, the director now owns 9,339 shares in the company, valued at C$186,219.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Several institutional investors and hedge funds have recently modified their holdings of MOS. Synovus Financial Corp increased its stake in shares of Mosaic by 127.4% in the 2nd quarter. Synovus Financial Corp now owns 4,128 shares of the company’s stock worth $107,000 after acquiring an additional 2,313 shares during the last quarter. Seven Eight Capital LLC grew its holdings in shares of Mosaic by 27.2% during the 1st quarter. Seven Eight Capital LLC now owns 4,209 shares of the company’s stock worth $114,000 after purchasing an additional 900 shares during the period. Mizuho Asset Management Co. Ltd. grew its holdings in shares of Mosaic by 139.6% during the 2nd quarter. Mizuho Asset Management Co. Ltd. now owns 4,668 shares of the company’s stock worth $122,000 after purchasing an additional 2,720 shares during the period. Exane Derivatives purchased a new position in shares of Mosaic during the 2nd quarter worth $126,000. Finally, YorkBridge Wealth Partners LLC grew its holdings in shares of Mosaic by 13,636.4% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 6,044 shares of the company’s stock worth $130,000 after purchasing an additional 6,000 shares during the period.
The Mosaic Company is a producer and marketer of concentrated phosphate and potash crop nutrients. The Company operates through three segments: Phosphates, Potash and International Distribution. The Company is a supplier of phosphate- and potash-based crop nutrients and animal feed ingredients. The Phosphates segment owns and operates mines and production facilities in Florida, which produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana, which produce concentrated phosphate crop nutrients.
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