Freedom Capital downgraded The Mosaic Company from strong-buy to strong sell on Friday. This rating diverges from the broader analyst consensus of Hold. The average price target for the fertilizer manufacturer is $27.17.
The downgrade coincides with the expiration of cash tender offers for outstanding debt. Mosaic first announced these offers on August 10. Pricing for the debt was scheduled for determination on August 14.
Mosaic reported adjusted quarterly earnings of $0.13 per share. This figure slightly exceeded analyst estimates. Quarterly revenue reached $2.82 billion, missing market forecasts.