Why The Mosaic Company (MOS) Led the Monday Upsurge?

We recently published a list of 10 Firms Dominate Monday Upsurge. In this article, we are going to take a look at where The Mosaic Company (NYSE:MOS) stands against other firms that dominated Monday upsurge.

Ten companies—predominantly in the healthcare sector—kicked off Monday’s trading with notable gains amid a series of business updates, earnings, and acquisition deals that have fueled investor confidence.

Their gains outperformed mixed trading on Wall Street, with the Dow Jones and S&P’s main index the only gainers, up 0.86 percent and 0.16 percent, respectively. Meanwhile, the Nasdaq Composite dropped by 0.38 percent.

In this article, we will take a look at what buoyed the companies’ share prices.

To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Why American chemical firm Mosaic (MOS) Dominates Monday Upsurge?

A farmer tending to his crops in a field, with a fertiliser bag nearby.

The Mosaic Company (NYSE:MOS)

Shares of American chemical firm The Mosaic Company (NYSE:MOS) rose by 8.01 percent on Monday to close at $26.82 each following news that the company entered into an agreement with Fosfatados Centro SPE Ltda for the sale of a phosphate asset owned by Mosaic (NYSE:MOS) in Patos de Minas, Brazil.

Upon closing of the transaction, Mosaic (NYSE:MOS) is expected to raise $125 million from the sale, payable over six years.

The transaction is subject to regulatory approvals, including approval by the Brazilian Administrative Council for Economic Defense (CADE), and other conditions precedents.

“This transaction aligns with Mosaic’s strategy to scrutinize and monetize non-core assets and redeploy capital to high-returning areas, and we believe the full value of the Patos asset will be realized in the capable hands of Fosfatados Centro,” said Mosaic Executive Vice President Karen Swager. “We are grateful to our employees who have been dedicated to the continued maintenance of the asset.”

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Disclosure: None. This article is originally published at Insider Monkey.