Mosaic (NYSE:MOS) Price Target Raised to $34.00 at Scotiabank

Mosaic (NYSE:MOS) had its price objective hoisted by Scotiabank from $31.00 to $34.00 in a report issued on Wednesday,Benzinga reports. They currently have a sector outperform rating on the basic materials company’s stock.

A number of other research analysts have also recently issued reports on MOS. Oppenheimer assumed coverage on shares of Mosaic in a research report on Thursday, December 12th. They set a “market perform” rating for the company. JPMorgan Chase & Co. upgraded Mosaic from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $26.00 to $29.00 in a research note on Monday, March 3rd. CIBC started coverage on Mosaic in a research note on Tuesday, December 10th. They set a “neutral” rating and a $55.00 price objective for the company. Barclays upgraded Mosaic from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $27.00 to $33.00 in a report on Wednesday. Finally, Royal Bank of Canada upped their price target on shares of Mosaic from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 4th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $32.67.

Mosaic Trading Down 1.9 %

Shares of MOS opened at $27.83 on Wednesday. Mosaic has a 1-year low of $22.48 and a 1-year high of $33.44. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.42 and a beta of 1.34. The firm’s 50-day moving average price is $26.54 and its 200-day moving average price is $26.17. The company has a current ratio of 1.19, a quick ratio of 0.49 and a debt-to-equity ratio of 0.27.

Mosaic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.16%. Mosaic’s payout ratio is 160.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MOS. Pacer Advisors Inc. raised its position in shares of Mosaic by 49.0% during the 4th quarter. Pacer Advisors Inc. now owns 73,807 shares of the basic materials company’s stock valued at $1,814,000 after buying an additional 24,281 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Mosaic by 44.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,218,410 shares of the basic materials company’s stock worth $86,189,000 after buying an additional 986,812 shares during the last quarter. Swedbank AB boosted its stake in Mosaic by 2.3% during the third quarter. Swedbank AB now owns 1,269,494 shares of the basic materials company’s stock worth $33,997,000 after buying an additional 28,816 shares during the period. OLD National Bancorp IN increased its position in Mosaic by 33.8% during the fourth quarter. OLD National Bancorp IN now owns 291,605 shares of the basic materials company’s stock valued at $7,168,000 after acquiring an additional 73,653 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Mosaic in the third quarter valued at $1,251,000. 77.54% of the stock is owned by hedge funds and other institutional investors.

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.