Royal Bank of Canada Trims Mosaic (NYSE:MOS) Target Price to $35.00

Mosaic (NYSE:MOS) had its price objective cut by Royal Bank of Canada from $38.00 to $35.00 in a report issued on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the basic materials company’s stock.

A number of other equities analysts also recently commented on the stock. Stifel Nicolaus lowered their target price on shares of Zogenix from $72.00 to $61.00 and set a buy rating for the company in a research note on Tuesday, April 9th. Scotiabank downgraded shares of WEC Energy Group from an outperform rating to a sector perform rating and boosted their target price for the stock from $76.00 to $78.00 in a research note on Wednesday, May 8th. BMO Capital Markets boosted their target price on shares of Accenture to $185.00 and gave the stock a market perform rating in a research note on Friday, March 29th. Cowen reiterated a buy rating and set a $50.00 target price on shares of Tricida in a research note on Tuesday, June 25th. Finally, Berenberg Bank set a $43.00 target price on shares of CF Industries and gave the stock a hold rating in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $32.57.

NYSE:MOS opened at $23.37 on Friday. The stock has a fifty day simple moving average of $23.15. The firm has a market capitalization of $8.82 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 2.00 and a beta of 1.57. The company has a current ratio of 1.73, a quick ratio of 0.66 and a debt-to-equity ratio of 0.42. Mosaic has a 52 week low of $20.81 and a 52 week high of $37.37.

Mosaic (NYSE:MOS) last posted its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.86 billion. Mosaic had a net margin of 5.85% and a return on equity of 7.88%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 earnings per share. As a group, research analysts expect that Mosaic will post 1.65 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were given a $0.05 dividend. The ex-dividend date was Wednesday, June 5th. This is a boost from Mosaic’s previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a yield of 0.86%. Mosaic’s payout ratio is 9.43%.

In related news, Director Emery N. Koenig purchased 2,089 shares of Mosaic stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average cost of $23.95 per share, with a total value of $50,031.55. Following the completion of the transaction, the director now directly owns 25,244 shares in the company, valued at $604,593.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Clint Freeland bought 4,250 shares of Mosaic stock in a transaction dated Friday, May 10th. The stock was acquired at an average cost of $23.60 per share, with a total value of $100,300.00. Following the completion of the acquisition, the chief financial officer now directly owns 4,250 shares of the company’s stock, valued at approximately $100,300. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 17,339 shares of company stock valued at $414,182. 0.51% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Mosaic by 0.8% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 53,888 shares of the basic materials company’s stock valued at $1,472,000 after buying an additional 443 shares during the last quarter. BMT Investment Advisors raised its holdings in shares of Mosaic by 0.9% in the first quarter. BMT Investment Advisors now owns 50,902 shares of the basic materials company’s stock valued at $1,390,000 after buying an additional 471 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Mosaic by 4.8% in the first quarter. Assenagon Asset Management S.A. now owns 10,900 shares of the basic materials company’s stock valued at $298,000 after buying an additional 500 shares during the last quarter. Tocqueville Asset Management L.P. raised its holdings in shares of Mosaic by 2.1% in the first quarter. Tocqueville Asset Management L.P. now owns 24,475 shares of the basic materials company’s stock valued at $668,000 after buying an additional 500 shares during the last quarter. Finally, Wellington Shields & Co. LLC raised its holdings in shares of Mosaic by 4.4% in the first quarter. Wellington Shields & Co. LLC now owns 11,800 shares of the basic materials company’s stock valued at $322,000 after buying an additional 500 shares during the last quarter. 74.79% of the stock is owned by institutional investors and hedge funds.

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 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.

Featured Article: What is a closed-end mutual fund (CEF)?

Analyst Recommendations for Mosaic (NYSE:MOS)

Receive News & Ratings for Mosaic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mosaic and related companies with MarketBeat.com's FREE daily email newsletter.