Mizuho Reiterates “Buy” Rating for Mosaic (NYSE:MOS)

Mizuho restated their buy rating on shares of Mosaic (NYSE:MOS) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $48.00 price objective on the basic materials company’s stock.

MOS has been the subject of a number of other research reports. Barclays lowered shares of Mosaic from an equal weight rating to an underweight rating and set a $40.00 price objective for the company. in a report on Monday, August 14th. Credit Suisse Group upped their price objective on shares of Mosaic from $33.00 to $36.00 and gave the company an underperform rating in a report on Wednesday, August 2nd. Piper Sandler upped their price objective on shares of Mosaic from $42.00 to $46.00 in a report on Monday, August 7th. Royal Bank of Canada reissued a sector perform rating and issued a $40.00 price objective on shares of Mosaic in a report on Tuesday, August 8th. Finally, Bank of America upped their price objective on shares of Mosaic from $50.00 to $51.00 and gave the company a buy rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $45.71.

Mosaic Price Performance

Mosaic stock opened at $38.39 on Wednesday. Mosaic has a 52-week low of $31.44 and a 52-week high of $57.46. The firm has a market capitalization of $12.76 billion, a price-to-earnings ratio of 6.06, a PEG ratio of 1.42 and a beta of 1.52. The company has a fifty day simple moving average of $38.98 and a 200-day simple moving average of $40.14. The company has a quick ratio of 0.53, a current ratio of 1.18 and a debt-to-equity ratio of 0.19.

Mosaic (NYSE:MOS) last released its earnings results on Tuesday, August 1st. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.03). Mosaic had a return on equity of 20.21% and a net margin of 12.89%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the company earned $3.64 EPS. Mosaic’s quarterly revenue was down 36.8% compared to the same quarter last year. On average, equities analysts anticipate that Mosaic will post 3.89 EPS for the current fiscal year.

Mosaic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, September 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.08%. Mosaic’s dividend payout ratio is presently 12.64%.

Institutional Trading of Mosaic

Several hedge funds have recently made changes to their positions in MOS. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Mosaic by 64,942.3% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,380,407,544 shares of the basic materials company’s stock worth $48,314,264,000 after purchasing an additional 1,378,285,221 shares in the last quarter. Capital International Investors acquired a new stake in Mosaic in the first quarter valued at approximately $412,663,000. Wellington Management Group LLP raised its holdings in Mosaic by 910.9% in the first quarter. Wellington Management Group LLP now owns 4,451,909 shares of the basic materials company’s stock valued at $296,052,000 after acquiring an additional 4,011,530 shares in the last quarter. Norges Bank acquired a new stake in Mosaic in the fourth quarter valued at approximately $128,142,000. Finally, Bank of New York Mellon Corp raised its holdings in Mosaic by 59.6% in the first quarter. Bank of New York Mellon Corp now owns 4,815,798 shares of the basic materials company’s stock valued at $220,949,000 after acquiring an additional 1,798,118 shares in the last quarter. Institutional investors and hedge funds own 84.05% of the company’s stock.

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 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.