MOsaic Misses EPS By $0.05

Mosaic MOS reported FQ1 EPS of $0.67, $0.05 below consensus as stronger than expected results in Potash were more than offset by slightly weaker than expected results in Phosphates. Mosaic's outlook for 2011 is positive with global phosphate shipments expected to reach 57-59 MM m.t. in 2011. Mosaic also reported that in September it idled its South Fort Meade phosphate rock mine. Deutsche Bank has a Hold rating with a $42 price target on MOS MOS closed Monday at $59.88