JPMorgan Chase & Co. Trims Mosaic (NYSE:MOS) Target Price to $24.00

Mosaic (NYSE:MOS) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $27.00 to $24.00 in a note issued to investors on Friday, The Fly reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 9.19% from the stock’s current price.

Several other research firms also recently weighed in on MOS. Citigroup upgraded Mosaic from a “neutral” rating to a “buy” rating and upped their price target for the stock from $26.00 to $31.00 in a research note on Wednesday, July 31st. Standpoint Research upgraded Mosaic from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. CIBC downgraded Mosaic from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, August 7th. BMO Capital Markets set a $27.00 price target on Mosaic and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Cfra restated a “buy” rating and issued a $27.00 price target on shares of Mosaic in a research note on Monday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $30.63.

Mosaic stock opened at $21.98 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.67 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $8.25 billion, a P/E ratio of 10.37, a PEG ratio of 2.58 and a beta of 1.64. The stock’s 50 day moving average is $20.92 and its 200 day moving average is $24.31. Mosaic has a twelve month low of $17.36 and a twelve month high of $37.37.

Mosaic (NYSE:MOS) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.18). The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Mosaic had a return on equity of 6.87% and a net margin of 2.70%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 EPS. As a group, equities analysts expect that Mosaic will post 1.18 EPS for the current year.

In other Mosaic news, Director Cheryl K. Beebe bought 12,998 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were acquired at an average cost of $19.21 per share, for a total transaction of $249,691.58. Following the purchase, the director now owns 23,704 shares in the company, valued at approximately $455,353.84. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.51% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Stonebridge Capital Advisors LLC purchased a new position in shares of Mosaic in the 2nd quarter worth $32,000. Captrust Financial Advisors boosted its stake in shares of Mosaic by 207.9% in the 2nd quarter. Captrust Financial Advisors now owns 1,404 shares of the basic materials company’s stock worth $35,000 after buying an additional 948 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Mosaic in the 1st quarter worth $41,000. Rational Advisors LLC boosted its stake in shares of Mosaic by 2,825.9% in the 1st quarter. Rational Advisors LLC now owns 1,580 shares of the basic materials company’s stock worth $43,000 after buying an additional 1,526 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Mosaic by 169.1% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,596 shares of the basic materials company’s stock worth $40,000 after buying an additional 1,003 shares during the last quarter. Institutional investors and hedge funds own 74.96% of the company’s stock.

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 International Distribution. 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.

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