Mosaic's (NYSE:MOS) EPS Estimates Raised on Strong Performance

The solid beat by Mosaic (NYSE:MOS) in the second quarter for earnings per share caused Soleil Securities to raise their full year estimate on the fertilizer company for 2011.

Soleil said, "2QF11 EPS of $1.01 beat Street consensus for $0.91 due to higher-than-expected phosphate shipments, prices, and therefore gross margin, partially offset by higher-than-expected potash royalties...We raise our F2011E on the 2QF11 beat and better-than-expected guidance for 3QF11 on continued momentum in phosphates. We tweak our well-above-consensus F2012E on higher potash royalties."

Soleil Securities maintains a "Hold" rating on Mosaic, which was trading at $0.95, gaining $1.23 percent, as of 11:35 AM EST. Soleil boosted their price target on Mosaic from $70 to $84.