Mosaic (MOS) Unveils Biosciences Platform, Boosts Crop Health
The Mosaic Company MOS has announced the creation of the Mosaic Biosciences platform, a global effort to bring cutting-edge research and innovation to the agriculture sector. Mosaic Biosciences' technologies enhance crop health and support natural biology in plants and soil, boosting the yield potential of every field.
According to analysts, the market for agricultural biologicals might reach roughly $30 billion by 2029, and Mosaic continues to invest in biological technologies to provide farmers with best-in-class technology.
Mosaic Biosciences' portfolio includes biological fertilizer supplements PowerCoat and BioPath, which improve nutrient utilization efficiency and plant growth and vigor. Additional products aid in mitigating abiotic stress caused by drought, heat and salinity. Mosaic Biosciences is establishing a pipeline of innovative biologic products with a global team of scientists to improve plant health, stress management, nutrient uptake and agricultural productivity.
Shares of Mosaic have lost 27.9% over the past year compared with 34.4% decline of its industry.
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The company, on its second-quarter call, stated it remains committed to carrying out investments with high returns with moderate capital expenditures, such as the expansion of MicroEssentials capacity at its Riverview facility, constructing a new blending and distribution center in Palmeirante, Brazil, executing the construction of a purified phosphoric acid plant for sale in North Americ and installing a Hydrofloat flotation system at Esterhazy's K2 mill. The estimated total capital expenditures for 2023 are $1.3-$1.4 billion.
Mosaic aims to return substantial free cash flow in 2023 to shareholders. Mosaic strives to maintain a healthy balance sheet. In the second quarter, the company closed on a $700 million 10-year term credit facility under the Farm Credit System, allowing it additional flexibility to manage its capital.
The Mosaic Company Price and Consensus
The Mosaic Company price-consensus-chart | The Mosaic Company Quote
Zacks Rank & Key Picks
Mosaic currently carries a Zacks Rank #3 (Hold)
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Denison Mine Corp. DNN and Veritiv Corporation VRTV.
Capenter Technology currently carries a Zacks Rank #1 (Strong Buy). The stock has rallied roughly 48.7% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Denison Mines currently carries a Zacks Rank #1. The stock has gained roughly 14.6% in the past year. DNN beat the Zacks Consensus Estimate in three of the last four quarters while meeting once. It delivered a trailing four-quarter earnings surprise of 75%, on average.
Veritiv currently carries a Zacks Rank #2 (Buy). The stock has rallied roughly 21.9% in the past year. VRTV beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6%, on average.
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