HSBC reaffirmed their underweight rating on shares of The Mosaic (NYSE:MOS) in a research note issued to investors on Monday, American Banking News.com reports. The firm currently has a $40.00 price target on the stock, up from their previous price target of $33.00.
“Investors have been battered by storms in all three nutrient sectors as major disruptions hit the broad fertiliser world in the past six months. As a result, time horizon and risk/reward have become much more important factors for investment decisions. Urea prices may have bottomed out, though lack near-term catalysts. Potash producers are still reeling, but we think the worst of the crisis has passed, and prices may rise in the medium term. The eventual return of Indian demand means phosphates have the clearest road to recovery, and this nutrient is our preferred of the three.,” HSBC’s analyst wrote.
The Mosaic (NYSE:MOS) traded up 0.67% during mid-day trading on Monday, hitting $46.36. 2,090,020 shares of the company’s stock traded hands. The Mosaic has a 52-week low of $39.75 and a 52-week high of $64.65. The stock has a 50-day moving average of $45.55 and a 200-day moving average of $51.09. The company has a market cap of $19.741 billion and a price-to-earnings ratio of 10.42. The Mosaic also saw unusually large options trading activity on Monday. Investors acquired 8,992 put options on the stock. This is an increase of approximately 142% compared to the average daily volume of 3,723 put options.
The Mosaic (NYSE:MOS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.51 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.56 by $0.05. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was down 27.9% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, December 3rd.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of The Mosaic from $43.00 to $42.00 in a research note to investors on Friday, October 25th. They now have a hold rating on the stock. Separately, analysts at CIBC reiterated a sector perform rating on shares of The Mosaic in a research note to investors on Friday, October 18th. They now have a $50.00 price target on the stock. Finally, analysts at Zacks downgraded shares of The Mosaic from a neutral rating to an underperform rating in a research note to investors on Thursday, October 3rd. They now have a $43.60 price target on the stock. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $52.43.
The Mosaic Company (NYSE:MOS) is a producer and marketer of combined concentrated phosphate and potash crop nutrients for the global agriculture industry.
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