Mosaic (NYSE: MOS) shares are trading lower on Monday after Bank Of America downgraded the stock from Buy to Underperform.
Formed in 2004 by the combination of IMC Global and Cargill's fertilizer business, Mosaic is a producer of primary crop nutrients phosphate and potash.
The company's assets include phosphate rock mines in Florida and potash mines in Saskatchewan and New Mexico. With the purchase of assets from Vale, Mosaic added significantly to its phosphate production capacity and Brazilian footprint.
Mosaic shares were trading down 9% at $10.82 on Monday. The stock has a 52-week high of $25.70 and a 52-week low of $6.50.