Mosaic (NYSE:MOS) Price Target Cut to $32.00

Mosaic (NYSE:MOS) had its price objective dropped by Royal Bank of Canada from $35.00 to $32.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 7.06% from the stock’s current price.

Several other equities research analysts also recently issued reports on MOS. Wolfe Research started coverage on Mosaic in a research report on Friday, March 1st. They issued an “outperform” rating and a $39.00 price target on the stock. The Goldman Sachs Group cut their price target on shares of Mosaic from $54.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, February 1st. Piper Sandler cut Mosaic from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $42.00 to $32.00 in a report on Thursday, February 29th. Wells Fargo & Company lifted their target price on Mosaic from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. Finally, TheStreet cut shares of Mosaic from a “b-” rating to a “c+” rating in a research note on Tuesday, February 6th. 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 company. Based on data from MarketBeat, Mosaic has an average rating of “Hold” and a consensus target price of $38.57.

Mosaic Price Performance

Shares of NYSE MOS opened at $29.89 on Monday. The firm’s 50-day simple moving average is $31.33 and its 200 day simple moving average is $32.93. Mosaic has a fifty-two week low of $27.83 and a fifty-two week high of $42.81. The stock has a market cap of $9.62 billion, a P/E ratio of 12.72 and a beta of 1.51. The company has a quick ratio of 0.51, a current ratio of 1.16 and a debt-to-equity ratio of 0.26.

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

Institutional Trading of Mosaic

Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its stake in Mosaic by 29.9% in the third quarter. Commonwealth Equity Services LLC now owns 94,382 shares of the basic materials company’s stock worth $3,360,000 after buying an additional 21,706 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Mosaic by 91.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 62,092 shares of the basic materials company’s stock worth $2,210,000 after buying an additional 29,644 shares during the period. IFM Investors Pty Ltd boosted its position in shares of Mosaic by 1.2% in the third quarter. IFM Investors Pty Ltd now owns 65,915 shares of the basic materials company’s stock worth $2,347,000 after purchasing an additional 765 shares during the period. TD Asset Management Inc boosted its stake in shares of Mosaic by 41.7% in the third quarter. TD Asset Management Inc now owns 319,439 shares of the basic materials company’s stock worth $11,372,000 after acquiring an additional 94,063 shares during the period. Finally, ING Groep NV grew its stake in Mosaic by 63.7% during the third quarter. ING Groep NV now owns 357,265 shares of the basic materials company’s stock valued at $12,719,000 after acquiring an additional 139,045 shares in the last quarter. 77.54% of the stock is owned by 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.