On Thursday heightened volatility was witnessed in the Mosaic Company which led to swings in the share price. They set a market perform rating and a $44.00 price target on the stock. Mosaic has been losing ground for the past week and a half and sank to a new low for the year. The fertilizer maker reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.14. Potash demand could slide 8 percent next year, leading to a record surplus and lower prices, Macquarie Capital Ltd. analysts said in a report Monday. However, the standard deviation of short term price estimate has been valued at 4.36.
As a result, the Minnesota-based company said it would extend maintenance downtime at its Colonsay, Saskatchewan potash mine in Western Canada.