Scotia Capital Has Sector Perform On Mosaic

Scotia Capital has a Sector Perform rating and a $80 one-year price target on shares of Mosaic MOS after it reported earnings. In a note to clients, Scotia Capital writes, "We expected MOS' phosphate margin to decline, and it did. Gross margin per tonne dropped by 12% to $168/mt from $192/mt. We think investors with short positions on MOS should cover, as we anticipate a bump in 1H/12 P margins, as new capacity slowly ramps up. " Shares of MOS are up 79 cents in pre-market trading to $69.28, a gain of 1.15%.