Scotiabank Lowers Mosaic (NYSE:MOS) Price Target to $38.00

Mosaic (NYSE:MOS) had its price objective decreased by research analysts at Scotiabank from $40.00 to $38.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the basic materials company’s stock. Scotiabank’s price objective suggests a potential upside of 27.13% from the stock’s current price. Scotiabank also issued estimates for Mosaic’s Q2 2024 earnings at $0.72 EPS.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada reduced their price objective on Mosaic from $35.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday. Wells Fargo & Company raised their price target on shares of Mosaic from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. TheStreet lowered shares of Mosaic from a “b-” rating to a “c+” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group decreased their target price on shares of Mosaic from $54.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. Finally, Piper Sandler cut shares of Mosaic from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $42.00 to $32.00 in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $38.57.

Mosaic Stock Performance

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

Mosaic (NYSE:MOS) last posted its quarterly earnings data 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). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.88 billion. Mosaic had a net margin of 6.07% and a return on equity of 8.23%. The company’s revenue was down 25.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 earnings per share. On average, analysts forecast that Mosaic will post 2.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Mosaic

Large investors have recently added to or reduced their stakes in the business. AustralianSuper Pty Ltd increased its holdings in shares of Mosaic by 23.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 2,083,150 shares of the basic materials company’s stock valued at $74,431,000 after purchasing an additional 391,191 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Mosaic by 3,212.6% in the 4th quarter. International Assets Investment Management LLC now owns 240,200 shares of the basic materials company’s stock valued at $8,582,000 after acquiring an additional 232,949 shares during the period. Sapient Capital LLC bought a new position in Mosaic in the 4th quarter valued at about $2,300,000. Oak Thistle LLC boosted its holdings in shares of Mosaic by 13.1% during the fourth quarter. Oak Thistle LLC now owns 40,136 shares of the basic materials company’s stock worth $1,434,000 after acquiring an additional 4,658 shares during the period. Finally, First American Trust FSB acquired a new position in shares of Mosaic in the fourth quarter valued at approximately $2,613,000. Institutional investors own 77.54% of the company’s stock.

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.