Mosaic Co (MOS) Trading Up 7.1% After Earnings Beat

Mosaic Co (NYSE:MOS) shares were up 7.1% on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as C$22.90 and last traded at C$22.34. Approximately 11,791,541 shares were traded during trading, an increase of 189% from the average daily volume of 4,076,730 shares. The stock had previously closed at C$20.85.

The company reported C$0.43 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.25 by C$0.18. Mosaic had a return on equity of 4.03% and a net margin of 5.20%. The company had revenue of C$1.98 billion for the quarter, compared to analysts’ expectations of C$1.93 billion. During the same period last year, the firm earned $0.41 EPS. Mosaic’s revenue for the quarter was up 1.7% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Thursday, December 7th will be given a dividend of $0.025 per share. The ex-dividend date is Wednesday, December 6th. This represents a $0.10 dividend on an annualized basis and a dividend yield of Infinity.

A number of brokerages recently commented on MOS. Morgan Stanley lowered their price target on shares of Mosaic from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Monday, August 7th. Royal Bank Of Canada decreased their price objective on shares of Mosaic to C$23.00 and set a “sector perform” rating for the company in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Mosaic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $27.00 price target on shares of Mosaic in a research note on Friday, July 14th. Finally, BMO Capital Markets reissued a “hold” rating and set a $25.00 price objective on shares of Mosaic in a report on Friday, September 8th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of C$23.91.

In related news, Director Robert L. Lumpkins bought 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average cost of C$19.94 per share, with a total value of C$139,580.00. Following the transaction, the director now directly owns 9,339 shares of the company’s stock, valued at approximately C$186,219.66. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

A number of institutional investors have recently modified their holdings of MOS. CIBC Asset Management Inc lifted its stake in shares of Mosaic by 0.4% in the 2nd quarter. CIBC Asset Management Inc now owns 37,157 shares of the company’s stock worth $848,000 after acquiring an additional 149 shares during the period. Sentry Investment Management LLC lifted its stake in shares of Mosaic by 1.0% in the second quarter. Sentry Investment Management LLC now owns 23,662 shares of the company’s stock valued at $540,000 after purchasing an additional 223 shares during the period. Bank of Hawaii raised its position in Mosaic by 0.8% during the second quarter. Bank of Hawaii now owns 36,496 shares of the company’s stock worth $833,000 after acquiring an additional 287 shares during the last quarter. Xact Kapitalforvaltning AB raised its position in Mosaic by 0.6% during the second quarter. Xact Kapitalforvaltning AB now owns 53,096 shares of the company’s stock worth $1,212,000 after acquiring an additional 297 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Mosaic by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the company’s stock worth $498,000 after acquiring an additional 300 shares during the last quarter.

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About Mosaic

The Mosaic Company is a producer and marketer of concentrated phosphate and potash crop nutrients. The Company operates through three segments: Phosphates, Potash and International Distribution. The Company is a supplier of phosphate- and potash-based crop nutrients and animal feed ingredients. The Phosphates segment owns and operates mines and production facilities in Florida, which produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana, which produce concentrated phosphate crop nutrients.

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