Mosaic (NYSE:MOS) Price Target Cut to $32.00 by Analysts at Royal Bank of Canada

Mosaic (NYSE:MOS) had its price objective reduced by Royal Bank of Canada from $35.00 to $32.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

Several other research analysts have also issued reports on the company. Mizuho cut their price target on Mosaic from $34.00 to $33.00 and set a neutral rating on the stock in a report on Friday, May 3rd. TheStreet cut Mosaic from a b- rating to a c+ rating in a report on Tuesday, February 6th. Wolfe Research initiated coverage on shares of Mosaic in a research note on Friday, March 1st. They set an outperform rating and a $39.00 price target for the company. Piper Sandler lowered shares of Mosaic from a neutral rating to an underweight rating and dropped their price objective for the company from $42.00 to $32.00 in a research note on Thursday, February 29th. Finally, Scotiabank raised shares of Mosaic from a sector perform rating to a sector outperform rating and set a $40.00 target price for the company in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Mosaic currently has an average rating of Hold and an average price target of $38.57.

Mosaic Stock Performance

Shares of MOS stock opened at $29.57 on Monday. The firm has a 50 day moving average of $31.30 and a 200-day moving average of $32.91. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 12.58 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 has a 52 week low of $27.83 and a 52 week high of $42.81.

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

Mosaic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a $0.21 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.84%. Mosaic’s dividend payout ratio (DPR) is presently 35.74%.

Hedge Funds Weigh In On Mosaic

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