JPMorgan Chase & Co. Cuts Mosaic (NYSE:MOS) Price Target to $24.00

Mosaic (NYSE:MOS) had its target price decreased by JPMorgan Chase & Co. from $26.00 to $24.00 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the company. Scotiabank boosted their price objective on Mosaic from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. Wells Fargo & Company assumed coverage on Mosaic in a report on Tuesday, November 11th. They set an “equal weight” rating and a $28.00 target price on the stock. Bank of America reduced their price target on Mosaic from $49.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Royal Bank Of Canada raised shares of Mosaic from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Mosaic in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $32.60.

Mosaic Price Performance

MOS opened at $23.62 on Friday. Mosaic has a 52-week low of $22.36 and a 52-week high of $38.23. The company has a 50 day moving average of $28.10 and a two-hundred day moving average of $32.47. The company has a market cap of $7.50 billion, a P/E ratio of 6.12, a P/E/G ratio of 0.57 and a beta of 0.94. The company has a quick ratio of 0.40, a current ratio of 1.14 and a debt-to-equity ratio of 0.26.

Mosaic (NYSE:MOS) last issued its earnings results on Tuesday, November 4th. The basic materials company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. Mosaic had a net margin of 10.33% and a return on equity of 6.46%. The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter last year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up 22.8% compared to the same quarter last year. On average, analysts expect that Mosaic will post 2.04 earnings per share for the current year.

Mosaic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Thursday, December 4th. Mosaic’s dividend payout ratio is 22.80%.

Institutional Investors Weigh In On Mosaic

Several hedge funds and other institutional investors have recently modified their holdings of MOS. Scotia Capital Inc. lifted its position in Mosaic by 395.1% in the second quarter. Scotia Capital Inc. now owns 87,556 shares of the basic materials company’s stock worth $3,194,000 after purchasing an additional 69,873 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Mosaic by 65.7% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 157,267 shares of the basic materials company’s stock worth $5,682,000 after buying an additional 62,338 shares in the last quarter. US Bancorp DE raised its stake in shares of Mosaic by 204.1% in the 2nd quarter. US Bancorp DE now owns 43,080 shares of the basic materials company’s stock worth $1,572,000 after buying an additional 28,912 shares in the last quarter. Vinva Investment Management Ltd acquired a new stake in shares of Mosaic in the second quarter valued at $621,000. Finally, HB Wealth Management LLC bought a new position in Mosaic during the second quarter valued at about $252,000. Institutional investors 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.