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

Mosaic (NYSE:MOS - Free Report) had its price objective raised by Scotiabank from $31.00 to $34.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a sector outperform rating on the basic materials company's stock.

Several other research analysts have also recently issued reports on MOS. The Goldman Sachs Group began coverage on shares of Mosaic in a report on Thursday, March 13th. They issued a "buy" rating and a $31.00 target price for the company. Barclays upgraded shares of Mosaic from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $27.00 to $33.00 in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of Mosaic from a "neutral" rating to an "overweight" rating and upped their price target for the company from $26.00 to $29.00 in a research report on Monday, March 3rd. CIBC began coverage on shares of Mosaic in a research report on Tuesday, December 10th. They issued a "neutral" rating and a $55.00 price target for the company. Finally, Morgan Stanley reduced their price target on shares of Mosaic from $40.00 to $30.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $32.67.

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Mosaic Stock Down 1.9 %

Shares of Mosaic stock traded down $0.55 during trading hours on Wednesday, hitting $27.83. The company had a trading volume of 7,382,409 shares, compared to its average volume of 4,291,115. The company's 50-day moving average is $26.54 and its two-hundred day moving average is $26.15. Mosaic has a twelve month low of $22.48 and a twelve month high of $33.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 0.49. The company has a market cap of $8.82 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34.

Mosaic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be issued a $0.22 dividend. 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 dividend payout ratio is presently 160.00%.

Institutional Investors Weigh In On Mosaic

A number of large investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in Mosaic by 29.3% in the 4th quarter. Invesco Ltd. now owns 13,507,131 shares of the basic materials company's stock valued at $332,005,000 after acquiring an additional 3,058,243 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Mosaic by 24.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,041,218 shares of the basic materials company's stock valued at $271,382,000 after acquiring an additional 2,151,426 shares during the last quarter. Geode Capital Management LLC grew its stake in Mosaic by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 8,621,001 shares of the basic materials company's stock valued at $218,751,000 after acquiring an additional 269,650 shares during the last quarter. Northern Trust Corp grew its stake in Mosaic by 5.9% in the 4th quarter. Northern Trust Corp now owns 5,171,642 shares of the basic materials company's stock valued at $127,119,000 after acquiring an additional 287,493 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in Mosaic by 21.7% in the 4th quarter. Two Sigma Advisers LP now owns 3,990,500 shares of the basic materials company's stock valued at $98,086,000 after acquiring an additional 711,300 shares during the last quarter. 77.54% of the stock is owned by institutional investors and hedge funds.

About Mosaic

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.