Royal Bank of Canada Cuts Mosaic (NYSE:MOS) Price Target to $32.00

Mosaic (NYSE:MOS) had its price objective reduced by investment analysts at Royal Bank of Canada from $35.00 to $32.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 45.52% from the stock’s previous close.

A number of other equities analysts have also issued reports on MOS. Stifel Nicolaus upped their target price on Mosaic from $31.00 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Citigroup raised Mosaic from a “neutral” rating to a “buy” rating and upped their target price for the company from $26.00 to $31.00 in a research report on Wednesday, July 31st. Morgan Stanley cut their target price on Mosaic from $36.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Standpoint Research raised Mosaic from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Finally, TheStreet lowered Mosaic from a “b-” rating to a “c+” rating in a research report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.25.

Shares of MOS traded down $0.03 during trading on Wednesday, reaching $21.99. The company’s stock had a trading volume of 372,049 shares, compared to its average volume of 4,016,223. The business’s fifty day moving average price is $24.06. Mosaic has a twelve month low of $20.05 and a twelve month high of $37.37. The company has a market cap of $9.41 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 2.18 and a beta of 1.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.66 and a current ratio of 1.73.

Mosaic (NYSE:MOS) last announced its earnings results on Tuesday, August 6th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.18). Mosaic had a net margin of 5.85% and a return on equity of 7.88%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts anticipate that Mosaic will post 1.6 earnings per share for the current fiscal year.

In related news, CFO Clint Freeland bought 4,250 shares of the company’s stock in a transaction on Friday, May 10th. The shares were purchased at an average cost of $23.60 per share, with a total value of $100,300.00. Following the completion of the transaction, the chief financial officer now directly owns 4,250 shares of the company’s stock, valued at $100,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Emery N. Koenig bought 2,089 shares of the company’s stock in a transaction on Friday, May 10th. The stock was bought at an average cost of $23.95 per share, for a total transaction of $50,031.55. Following the completion of the transaction, the director now directly owns 25,244 shares of the company’s stock, valued at $604,593.80. The disclosure for this purchase can be found here. Insiders acquired 7,339 shares of company stock worth $173,882 over the last ninety days. 0.51% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Meridian Wealth Management LLC bought a new position in shares of Mosaic in the first quarter worth $41,000. Rational Advisors LLC boosted its stake in Mosaic by 2,825.9% during the first quarter. Rational Advisors LLC now owns 1,580 shares of the basic materials company’s stock valued at $43,000 after buying an additional 1,526 shares in the last quarter. Squar Milner Financial Services LLC boosted its stake in Mosaic by 1,452.1% during the second quarter. Squar Milner Financial Services LLC now owns 1,878 shares of the basic materials company’s stock valued at $47,000 after buying an additional 1,757 shares in the last quarter. Private Capital Group LLC boosted its stake in Mosaic by 57.6% during the first quarter. Private Capital Group LLC now owns 1,896 shares of the basic materials company’s stock valued at $52,000 after buying an additional 693 shares in the last quarter. Finally, CWM LLC boosted its stake in Mosaic by 2,795.7% during the first quarter. CWM LLC now owns 2,027 shares of the basic materials company’s stock valued at $55,000 after buying an additional 1,957 shares in the last quarter. 74.24% of the stock is currently 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 International Distribution. 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.

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