HSBC Cuts Mosaic (NYSE:MOS) Price Target to $23.00

Mosaic (NYSE:MOS) had its price target lowered by HSBC from $26.00 to $23.00 in a report issued on Thursday,MarketScreener reports. The brokerage presently has a “hold” rating on the basic materials company’s stock. HSBC’s price objective points to a potential upside of 1.05% from the stock’s current price.

MOS has been the topic of a number of other reports. BNP Paribas Exane dropped their price objective on shares of Mosaic from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Monday. The Goldman Sachs Group reduced their target price on shares of Mosaic from $31.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Freedom Capital upgraded shares of Mosaic from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday. UBS Group reduced their price objective on shares of Mosaic from $27.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Finally, Morgan Stanley lowered their target price on shares of Mosaic from $35.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $27.24.

Mosaic Stock Up 1.1%

NYSE MOS traded up $0.25 on Thursday, reaching $22.76. 1,297,233 shares of the stock traded hands, compared to its average volume of 8,890,229. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.45 and a current ratio of 1.25. The company has a fifty day moving average price of $23.12 and a 200-day moving average price of $25.33. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 178.21, a PEG ratio of 2.57 and a beta of 0.79. Mosaic has a 12 month low of $19.80 and a 12 month high of $38.23.

Mosaic (NYSE:MOS) last posted its quarterly earnings results on Monday, May 11th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.15). Mosaic had a return on equity of 4.66% and a net margin of 0.36%.The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the company posted $0.49 EPS. Mosaic’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, research analysts forecast that Mosaic will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Mosaic

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC raised its position in Mosaic by 632.6% during the 3rd quarter. AQR Capital Management LLC now owns 8,447,324 shares of the basic materials company’s stock worth $291,348,000 after buying an additional 7,294,205 shares during the last quarter. Norges Bank acquired a new stake in Mosaic during the 4th quarter worth about $103,129,000. Invesco Ltd. lifted its holdings in shares of Mosaic by 28.9% in the 4th quarter. Invesco Ltd. now owns 11,840,398 shares of the basic materials company’s stock valued at $285,235,000 after buying an additional 2,653,969 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Mosaic by 252.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,240,652 shares of the basic materials company’s stock worth $82,637,000 after buying an additional 2,320,605 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new stake in shares of Mosaic in the second quarter worth about $72,380,000. Institutional investors and hedge funds own 77.54% of the company’s stock.

About Mosaic

Mosaic Co is one of the world’s leading producers and marketers of concentrated phosphate and potash crop nutrients. The company’s primary business activities center on the extraction, processing and distribution of phosphate rock, phosphate-based fertilizers and potash products. These core nutrients are essential components in modern agriculture, supporting crop yields and soil health across a range of farming applications.

In its phosphate segment, Mosaic operates mining and production facilities that convert phosphate rock into concentrated phosphates, finished phosphate fertilizers and feed phosphates for animal nutrition.