Wells Fargo & Company Increases Mosaic (NYSE:MOS) Price Target to $35.00

Mosaic (NYSE:MOS) had its price objective raised by equities researchers at Wells Fargo & Company from $28.00 to $35.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 2.28% from the company’s previous close.

A number of other research analysts also recently weighed in on MOS. The Goldman Sachs Group started coverage on Mosaic in a research note on Thursday, March 13th. They issued a “buy” rating and a $31.00 price target on the stock. Piper Sandler reiterated a “neutral” rating and issued a $30.00 target price on shares of Mosaic in a research note on Thursday, March 27th. Mizuho lowered their price target on shares of Mosaic from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. BNP Paribas raised shares of Mosaic to a “strong-buy” rating in a research note on Wednesday, April 9th. Finally, Scotiabank raised their target price on shares of Mosaic from $31.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Wednesday, March 19th. Six research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Mosaic Stock Performance

Shares of Mosaic stock opened at $34.22 on Monday. 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 12 month low of $22.36 and a 12 month high of $34.42. The business has a fifty day simple moving average of $27.30 and a 200-day simple moving average of $26.58. The stock has a market cap of $10.85 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09.

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

Hedge Funds Weigh In On Mosaic

A number of hedge funds have recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of Mosaic by 29.3% in the fourth quarter. Invesco Ltd. now owns 13,507,131 shares of the basic materials company’s stock valued at $332,005,000 after acquiring an additional 3,058,243 shares during the period. Dimensional Fund Advisors LP boosted its stake in Mosaic by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,497,545 shares of the basic materials company’s stock worth $310,549,000 after purchasing an additional 456,327 shares in the last quarter. Geode Capital Management LLC lifted its stake in Mosaic by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 8,621,001 shares of the basic materials company’s stock valued at $218,751,000 after acquiring an additional 269,650 shares during the period. Boston Partners increased its holdings in shares of Mosaic by 42.2% during the 1st quarter. Boston Partners now owns 7,979,380 shares of the basic materials company’s stock valued at $215,540,000 after purchasing an additional 2,368,094 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Mosaic by 5.9% in the 4th quarter. Northern Trust Corp now owns 5,171,642 shares of the basic materials company’s stock worth $127,119,000 after acquiring an additional 287,493 shares in the last quarter. 77.54% of the stock is currently owned by 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.