Mosaic (NYSE:MOS) Given New $42.00 Price Target at Scotiabank

Mosaic (NYSE:MOS) had its price objective raised by Scotiabank from $34.00 to $42.00 in a report released on Wednesday morning,Benzinga reports. They currently have a sector outperform rating on the basic materials company’s stock.

Several other equities analysts have also weighed in on MOS. UBS Group lifted their price target on Mosaic from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. StockNews.com upgraded Mosaic from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company increased their target price on Mosaic from $28.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday. Mizuho reduced their target price on Mosaic from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Royal Bank of Canada raised Mosaic from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $30.00 to $40.00 in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.58.

Mosaic Price Performance

Shares of Mosaic stock opened at $33.60 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 1.19 and a debt-to-equity ratio of 0.27. Mosaic has a twelve month low of $22.36 and a twelve month high of $34.42. The business has a 50-day moving average price of $27.66 and a 200 day moving average price of $26.68. The firm has a market cap of $10.65 billion, a PE ratio of 29.73, a P/E/G ratio of 1.42 and a beta of 1.09.

Mosaic (NYSE:MOS) last announced its quarterly earnings results on Tuesday, May 6th. The basic materials company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.04. Mosaic had a return on equity of 6.00% and a net margin of 3.24%. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the business earned $0.65 EPS. Mosaic’s revenue for the quarter was down 2.2% compared to the same quarter last year. Sell-side analysts predict that Mosaic will post 2.04 earnings per share for the current fiscal year.

Mosaic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.62%. Mosaic’s dividend payout ratio (DPR) is presently 75.86%.

Institutional Investors Weigh In On Mosaic

Large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its position in shares of Mosaic by 49.0% in the fourth quarter. Pacer Advisors Inc. now owns 73,807 shares of the basic materials company’s stock valued at $1,814,000 after purchasing an additional 24,281 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Mosaic by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,368,596 shares of the basic materials company’s stock valued at $82,800,000 after purchasing an additional 150,186 shares in the last quarter. OLD National Bancorp IN grew its position in shares of Mosaic by 33.8% in the fourth quarter. OLD National Bancorp IN now owns 291,605 shares of the basic materials company’s stock valued at $7,168,000 after purchasing an additional 73,653 shares in the last quarter. Swedbank AB grew its position in Mosaic by 9.3% in the fourth quarter. Swedbank AB now owns 1,387,332 shares of the basic materials company’s stock worth $34,101,000 after acquiring an additional 117,838 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in Mosaic in the fourth quarter worth approximately $1,054,000. 77.54% of the stock is currently owned by hedge funds and other institutional investors.

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.