Mosaic (NYSE:MOS) Given New $28.00 Price Target at Royal Bank of Canada

Mosaic (NYSE:MOS) had its target price lifted by equities researchers at Royal Bank of Canada from $27.00 to $28.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 23.51% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Mizuho reduced their price objective on Mosaic from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday. Oppenheimer initiated coverage on Mosaic in a research note on Thursday, December 12th. They set a “market perform” rating for the company. Piper Sandler lifted their price objective on shares of Mosaic from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Wells Fargo & Company cut their price objective on shares of Mosaic from $29.00 to $26.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Scotiabank lowered their target price on shares of Mosaic from $34.00 to $31.00 and set a “sector outperform” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.70.

Mosaic Stock Performance

NYSE MOS traded down $0.66 during trading on Tuesday, reaching $22.67. The company’s stock had a trading volume of 1,727,963 shares, compared to its average volume of 5,545,113. The business’s fifty day moving average price is $26.21 and its 200-day moving average price is $26.39. 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 quick ratio of 0.49 and a current ratio of 1.19. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 1.42 and a beta of 1.34.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group boosted its position in Mosaic by 110.8% during the fourth quarter. Brooklyn Investment Group now owns 1,117 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 587 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Mosaic during the 4th quarter worth about $33,000. Tobam acquired a new stake in Mosaic during the fourth quarter worth approximately $38,000. Heck Capital Advisors LLC purchased a new stake in shares of Mosaic in the fourth quarter valued at $41,000. Finally, Larson Financial Group LLC grew its holdings in Mosaic by 180,900.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,810 shares of the basic materials company’s stock valued at $48,000 after buying an additional 1,809 shares during the period. 77.54% of the stock is owned by hedge funds and other institutional investors.

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.