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Mosaic (MOS) Declares October Sales Volumes & Revenues

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The Mosaic Company (MOS - Free Report) recently released October 2020 sales volume and revenue figures for its segments.

In the Potash unit, the company recorded sales volume of 855,000 tons in October, up 40.9% year over year. Revenues in the segment rose 13.9% year over year to $180 million.

In the Mosaic Fertilizantes unit, sales volume fell 7.9% year over year to 818,000 tons. Revenues in the segment fell 22.6% year over year to $271 million.

In Phosphates, sales volume rose 19.7% year over year to 712,000 tons. Revenues in the segment rose 36.7% year over year to $294 million.

Shares of Mosaic have gained 5.9% in the past year compared with the industry’s 9.1% rise.

In third-quarter 2020, Mosaic stated that it expects depreciation, depletion and amortization for 2020 to be between $860 million and $900 million compared with $860-$910 million expected earlier. Capital expenditures are expected to be around $1.2 billion for 2020 and net interest expenses are expected to be $180-$190 million.

Further, it stated that strengthening fundamental trends witnessed in the third quarter is expected to continue in 2021. Factors like strong crop demand, affordable inputs and favorable weather makes grower economics across the globe attractive.

Zacks Rank & Key Picks

Mosaic currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Agnico Eagle Mines Limited (AEM - Free Report) , Barrick Gold Corporation (GOLD - Free Report) and New Gold Inc. (NGD - Free Report) . While Agnico Eagle and Barrick sport a Zacks Rank #1 (Strong Buy), New Gold carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Agnico Eagle has an expected earnings growth rate of 103.1% for 2020. Its shares have returned 13.3% in the past year.

Barrick has an expected earnings growth rate of 115.7% for 2020. The company’s shares have gained 44.4% in the past year.

New Gold has an expected earnings growth rate of 100% for 2020. The company’s shares have surged 115.5% in the past year.

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