Mosaic (NYSE:MOS) Given New $34.00 Price Target at Scotiabank

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

A number of other equities analysts have also recently weighed in on MOS. Piper Sandler upped their price target on Mosaic from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Morgan Stanley reduced their target price on Mosaic from $40.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Mizuho dropped their price target on shares of Mosaic from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. CIBC began coverage on shares of Mosaic in a report on Tuesday, December 10th. They issued a “neutral” rating and a $55.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on shares of Mosaic from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.64.

Mosaic Stock Up 2.8 %

MOS opened at $27.95 on Wednesday. The company has a fifty day moving average of $26.41 and a two-hundred day moving average of $26.16. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 1.42 and a beta of 1.34. Mosaic has a fifty-two week low of $22.48 and a fifty-two week high of $33.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.49 and a current ratio of 1.19.

Mosaic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from Mosaic’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.15%. Mosaic’s payout ratio is presently 160.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MOS. Intellectus Partners LLC grew its position in shares of Mosaic by 3.3% in the fourth quarter. Intellectus Partners LLC now owns 12,350 shares of the basic materials company’s stock valued at $304,000 after purchasing an additional 400 shares in the last quarter. Arizona State Retirement System boosted its stake in Mosaic by 0.5% during the fourth quarter. Arizona State Retirement System now owns 92,550 shares of the basic materials company’s stock worth $2,275,000 after buying an additional 471 shares during the last quarter. Probity Advisors Inc. grew its holdings in Mosaic by 6.2% in the 4th quarter. Probity Advisors Inc. now owns 8,701 shares of the basic materials company’s stock valued at $214,000 after buying an additional 508 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Mosaic by 1.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,516 shares of the basic materials company’s stock worth $799,000 after acquiring an additional 570 shares during the last quarter. Finally, Brooklyn Investment Group raised its holdings in shares of Mosaic by 110.8% during the 4th quarter. Brooklyn Investment Group now owns 1,117 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 587 shares during the period. 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.