Mosaic to Sell Its Phosphate Mining Unit in Brazil to Fosfatados

The Mosaic Company MOS agreed to sell its phosphate asset located in Patos de Minas, Brazil to Fosfatados Centro. The transaction will transfer the responsibility for the Patos de Minas mine and tailings dams to Fosfatados with MOS receiving a payment of $125 million in cash over six years. This is in-line with Mosaic’s strategy to divest its non-core assets and reinvest the capital in high-returning areas. Management of MOS believes the full value of the Patos asset will be realized only in the hands of Fosfatados Centro. For Fosfatados too, this transaction plays a significant role in the phosphate supply to the fertilizer market of Brazil and demonstrates its commitment to advancing the National Fertilizer Plan. The transaction is subject to regulatory approvals, including approval by the Brazilian Administrative Council for Economic Defense (CADE).MOS stock has lost 18.2% in the past year compared with the 5.6% decline in the industry.Image Source: Zacks Investment ResearchMOS’ Zacks Rank and Key PicksMOS currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation CRS, MAG Silver Corp. MAG and Fortuna Mining Corp. FSM. While CRS sports a Zacks Rank #1 (Strong Buy), MAG and FSM carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Carpenter Technology’s current-year earnings is pegged at $6.77. CRS beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 14.1%. CRS’ shares have soared 185.8% in the past year.The Zacks Consensus Estimate for MAG Silver’s current-year earnings is pegged at 75 cents per share. MAG surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average earnings surprise of 17.1%. The stock has gained 39.6% in the past year.The Zacks Consensus Estimate for Fortuna Mining’s current-year earnings is pegged at 53 cents, indicating a year-over-year rise of 118.2%. FSM’s earnings beat the Zacks Consensus Estimate in two of the last four quarters while missing in the other two, with an average earnings surprise of 53.6%. The stock has gained 11.6% in the past year. Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS): Free Stock Analysis Report The Mosaic Company (MOS): Free Stock Analysis Report Fortuna Mining Corp. (FSM): Free Stock Analysis Report MAG Silver Corporation (MAG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks