Mosaic stock jumps 7% as Hormuz supply shock lifts fertilizer prices
Mosaic Company surged nearly 7.5% to $31.35 in late trading Thursday—a standout gain amid a sluggish U.S. session—as traders piled into fertilizer stocks on worries that turmoil near the Strait of Hormuz could choke off global supply. The S&P 500, by comparison, dropped 1.5% for the day. This spring, Mosaic faced the crucial planting season while still grappling with sluggish U.S. phosphate demand weighing on its numbers. If crop nutrient prices climb and stay elevated, the upside for earnings could arrive sooner than Wall Street had penciled in for a company so focused on phosphate and potash—the nutrients growers rely on to boost production.
