We’ve Decreased Our Mosaic Fair Value Estimate to $30 Per Share on Lower Fertilizer Prices
We’re lowering our fair value estimate for Mosaic to $30 per share from $33 based on a reduced outlook for fertilizer prices. Our no-moat rating is intact. That said, we’ve upgraded Mosaic’s moat trend to positive from stable as the company’s new K3 Saskatchewan potash mine should lower the unit production costs and move the company to the lower portion of the cost curve over the coming decade.While we still expect phosphate and potash prices to increase (in real terms) by 2025, we don’t see me...
Mosaic is a producer and marketer of concentrated phosphate and potash crop nutrients. The company is organized into three reportable business segments: Phosphates, which owns and operates mines and production facilities in Florida that produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana that produce concentrated phosphate crop nutrients; Potash, which mines and processes potash in Canada and the United States and sells potash in North America and internationally; and Mosaic Fertilizantes, which produces and sells concentrated phosphates crop nutrients, phosphate-based animal feed ingredients and potash fertilizer.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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