Mosaic Co (MOS) Upgraded to “Buy” at Zacks Investment Research

Mosaic Co (NYSE:MOS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $25.00 price target on the stock.

According to Zacks, “Mosaic saw its profits surge year over year in the third quarter, driven by strong operational performance and healthy demand for its products. Both revenues and adjusted earnings topped the respective Zacks Consensus Estimate. Mosaic is well placed to gain from strong global demand for fertilizers. Moreover, the acquisition of Vale Fertilizantes will help the company to capitalize on the rapidly growing Brazilian agricultural market. The buyout is also expected to deliver significant synergies. Mosaic should also benefit from its cost reduction measures and its efforts to boost production capacity.”

MOS has been the subject of a number of other reports. Royal Bank Of Canada dropped their target price on shares of Mosaic to C$23.00 and set a “sector perform” rating for the company in a report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $24.00 target price on shares of Mosaic in a report on Thursday, October 12th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $25.00 target price (up from $23.00) on shares of Mosaic in a report on Friday, October 6th. Piper Jaffray Companies set a $23.00 target price on shares of Mosaic and gave the company a “hold” rating in a report on Friday, October 6th. Finally, HSBC Holdings plc started coverage on shares of Mosaic in a report on Wednesday, October 11th. They issued a “buy” rating and a $24.80 target price for the company. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of C$23.99.

Mosaic (NYSE:MOS) last issued its earnings results on Tuesday, October 31st. The company reported C$0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.25 by C$0.18. Mosaic had a net margin of 11.07% and a return on equity of 9.18%. The company had revenue of C$1.98 billion during the quarter, compared to analysts’ expectations of C$1.93 billion. During the same period last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year.

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In other news, Director Robert L. Lumpkins bought 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average price of C$19.94 per share, for a total transaction of C$139,580.00. Following the completion of the transaction, the director now owns 9,339 shares in the company, valued at C$186,219.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

A number of hedge funds and other institutional investors have recently made changes to their positions in MOS. YorkBridge Wealth Partners LLC boosted its position in Mosaic by 13,636.4% during the third quarter. YorkBridge Wealth Partners LLC now owns 6,044 shares of the company’s stock worth $130,000 after acquiring an additional 6,000 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Mosaic by 8.7% in the 2nd quarter. Pacer Advisors Inc. now owns 7,366 shares of the company’s stock valued at $168,000 after purchasing an additional 587 shares during the last quarter. CrestPoint Capital Management LLC acquired a new position in shares of Mosaic in the 2nd quarter valued at $208,000. Greenwood Capital Associates LLC boosted its holdings in shares of Mosaic by 30.5% in the 2nd quarter. Greenwood Capital Associates LLC now owns 9,445 shares of the company’s stock valued at $216,000 after purchasing an additional 2,210 shares during the last quarter. Finally, Westover Capital Advisors LLC acquired a new position in shares of Mosaic in the 2nd quarter valued at $218,000.

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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