NEW YORK ( TheStreet) -- The Mosaic Company (NYSE: MOS) hit a new 52-week high Wednesday as it traded at $85.50 compared with its previous 52-Week high of $85.45. The Mosaic is changing hands at $85.39 with 281,351 shares traded as of 9:31 a.m. ET. Average volume has been 5.9 million shares over the past 30 days. The Mosaic has a market cap of $37.4 billion and is part of the basic materials sector and chemicals industry. Shares are up 10.1% year to date as of the close of trading on Tuesday.

The Mosaic Company engages in the production and marketing of concentrated phosphate and potash crop nutrients for the agriculture industry worldwide. The company produces phosphate crop nutrients for use in crop nutrients and feed phosphate for animal feed ingredients. The company has a P/E ratio of 19.3, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 23.4.

TheStreet Ratings rates The Mosaic as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full The Mosaic Ratings Report.