Royal Bank of Canada raised its price target on Mosaic (NYSE:MOS) to $60.00.

According to Benzinga, equity research analysts at Royal Bank of Canada lowered their price target for Mosaic (NYSE: MOS) in a research report released Thursday. The report focused on the company’s shares. The previous price target of $65.00 has been revised to $60.00. In addition, the company assigned an “industry performance” rating to the company’s common stock engaged in basic materials. The price target set for Royal Bank of Canada indicates upside potential of 20.89% when measured against the company’s current share price.

There have been published articles regarding the stock written by other research analysts. On October 12, a Wednesday, StockNews.com began covering Mosaic after it became a publicly traded company. Investors were encouraged to follow their recommendations and buy the shares. Citigroup raised its price target on Mosaic shares from $58.00 to $61.00 and assigned the stock a “buy” rating in a research note released Wednesday. Mizuho lowered its price target on Mosaic shares from $74.00 to $69.00 and gave the company a “buy” rating in a research note released Wednesday. JPMorgan Chase & Co. lowered its price target on Mosaic shares from $75.00 to $73.00 and gave the company an “overweight” rating in a report released Wednesday. Finally, on August 10, Barclays released a report that called the company “underweight” and lowered its price target on Mosaic shares from $59.00 to $52.00. The price target was previously $59.00. One equity research analyst suggested selling the stock, seven analysts suggested keeping it in their portfolio, and nine analysts suggested buying the stock. According to Bloomberg.com, the company receives an average recommendation of “Hold”, and the consensus price target for the company is currently $64.31.
When the market opened on Thursday, the price of one MOS share was $49.63 per share. The stock has a price-to-earnings ratio of 4.86 and its price-to-earnings-to-growth (PEG) ratio is 0.54. The beta value of the stock is 1.55. The company currently has a market cap of $17.97 billion. 1.30 is the value assigned to the current ratio, 0.65 is the value assigned to the quick ratio and 0.28 is the value assigned to the debt ratio. The company’s simple moving average over the past 50 days is $51.75; the simple moving average over the past 200 days is $53.65. Over the past year, Mosaic’s price fluctuated between $33.59 and $79.28, with an average price of $79.28.

On August 1, Mosaic announced that its board of directors had authorized the company to repurchase up to $2 billion of the company’s currently outstanding stock. This repurchase authorization will allow the company which operates in the basic materials industry to potentially repurchase up to 10.8% of its shares on the open market. When a company announces that it intends to repurchase its stock, it almost always indicates that management believes the stock is currently trading at a price lower than its true value.

Recently, institutional investors have rebalanced their investment portfolios by shifting the percentage of equity holdings. In the third quarter, Guardian Wealth Advisors LLC acquired an additional stake in Mosaic worth approximately $27,000. SJS Investment Consulting, Inc. acquired a new investment in Mosaic worth approximately $28,000 in the first three months of 2018. A new stake in Mosaic valued at approximately $33,000 was acquired by BerganKDV Wealth Management LLC during the first three months. months of 2018. During the first three months of 2018, High Net Worth Advisory Group LLC acquired a new position in Mosaic which was estimated to be worth approximately $33,000 at the time of purchase. Finally, in the first three months of this year, FourThought Financial LLC increased the number of Mosaic shares held by a factor of 5,000%. FourThought Financial LLC now owns 510 shares held by the basic materials company after acquiring an additional 500 shares in the last quarter. This brings the total number of shares she owns to a total of 510. There is a value of $34,000 associated with these shares. 82.24% of the company’s shares are held by hedge funds and other institutional investors.

The Mosaic Company, through its many subsidiaries, operates a business that is dedicated to the production and sale of phosphate concentrates and potassium nutrients throughout the North American continent and the rest of the world. The company is organized into three divisions: production of phosphate and potash, mosaic fertilizers and general fertilizers. It owns and operates mines that produce concentrated phosphate nutrients such as diammonium phosphate, monoammonium phosphate and ammonium phosphate products; and phosphate-based animal feed ingredients, primarily under the Biofos and Nexfos brands, as well as a K-Mag brand for a dual sulfate of potash and magnesia product. These products are sold primarily in North America. The United States of America accounts for the majority of sales of these products.

Comments are closed.