Mosaic Co (MOS) Raised 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 presently 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 research analysts have also recently issued reports on the stock. Royal Bank Of Canada reduced their price objective on shares of Mosaic to C$23.00 and set a “sector perform” rating for the company in a report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Mosaic in a research note on Thursday, October 12th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $25.00 price objective (up previously from $23.00) on shares of Mosaic in a research note on Friday, October 6th. Piper Jaffray Companies set a $23.00 price objective on shares of Mosaic and gave the company a “hold” rating in a research note on Friday, October 6th. Finally, HSBC Holdings plc initiated coverage on shares of Mosaic in a research note on Wednesday, October 11th. They issued a “buy” rating and a $24.80 price objective for the company. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. Mosaic presently has a consensus rating of “Hold” and a consensus target price of C$23.99.
Mosaic (NYSE:MOS) last announced its earnings results on Tuesday, October 31st. The company reported C$0.43 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of C$1.98 billion during the quarter, compared to analyst estimates of C$1.93 billion. During the same period in the prior year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year.
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In other news, Director Robert L. Lumpkins bought 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average price of C$19.94 per share, for a total transaction of C$139,580.00. Following the completion of the transaction, the director now directly owns 9,339 shares in the company, valued at C$186,219.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several large investors have recently made changes to their positions in the company. Synovus Financial Corp raised its stake in Mosaic by 127.4% in the 2nd quarter. Synovus Financial Corp now owns 4,128 shares of the company’s stock valued at $107,000 after purchasing an additional 2,313 shares during the last quarter. Seven Eight Capital LLC boosted its stake in shares of Mosaic by 27.2% in the 1st quarter. Seven Eight Capital LLC now owns 4,209 shares of the company’s stock valued at $114,000 after buying an additional 900 shares during the period. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Mosaic by 139.6% in the 2nd quarter. Mizuho Asset Management Co. Ltd. now owns 4,668 shares of the company’s stock valued at $122,000 after buying an additional 2,720 shares during the period. Exane Derivatives purchased a new position in shares of Mosaic in the 2nd quarter valued at about $126,000. Finally, YorkBridge Wealth Partners LLC raised its position 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 acquiring an additional 6,000 shares in the last quarter.
Mosaic Company Profile
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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