Mosaic Co. (NYSE:MOS) fell 0.043% to $23.45 in after-hours trading on Tuesday.
Check out the current price of MOS stock here.
The stock of the global producer and distributor of potash and phosphate fertilizer fell 5.63% to close at $23.46 on Tuesday.
Brazil Phosphate Production Halted
Mosaic announced on Tuesday that it has begun steps to idle single super phosphate production, the first commercial mineral fertilizer made at its Fospar and Araxá facilities in Brazil, citing a sharp rise in sulfur prices.
The company also suspended future sulfur purchases and said it may review the decision after 30 days.
Mining Collapse Kills One Worker
The stock movement comes amid operational and safety concerns.
On Monday morning, a worker died from injuries suffered in an underground mining collapse at Mosaic’s K3 underground mine in Esterhazy, Saskatchewan, according to a company statement.
The employee’s name was not released, and no other injuries were reported.
All mining operations have been suspended and the site is now secure.
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The Florida-based company did not disclose in its statement the cause of the collapse, the extent of the damage or where inside the mine the incident occurred.
“Our thoughts go out to our colleague’s family and friends, all employees, and the broader community,” Mosaic stated.
The Town of Esterhazy posted on Facebook that the community “stands together in compassion and solidarity” with those affected by the tragedy.
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Trading Metrics
In December, Barclays PLC (NYSE:BCS) maintained an Overweight rating on MOS with a lowered price target of $31, while JP Morgan (NYSE:JPM) held a Neutral rating with a reduced target of $24.
The stock is down 4.56% year-to-date.
With a market capitalization of $7.45 billion, MOS has traded between $22.36 and $38.23 over the past 52 weeks.
Benzinga’s Edge Stock Rankings indicate MOS has a Value score of 95.79. Here is how the stock fares on other parameters.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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