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Freedom Broker downgraded Mosaic to Sell from Hold and raised its price target to $18 from $17. The analyst cited sulfur costs, which pushed Mosaic's phosphate gross margin below zero even with DAP at $838 per tonne.
Management expects fourth-quarter 2026 to be the EBITDA trough, with cheaper sulfur contracts helping from early 2027.
Sulfur is a key input for phosphate production, so its cost sets the margin for DAP producers and can constrain phosphate supply. The story is mainly about equity valuation, with a limited direct effect on feed commodity prices.
ph.investing.comNov 11, 2026
investing.comNov 11, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
