Brazil Potash’s (GRO) “Buy” Rating Reiterated at HC Wainwright

Brazil Potash (NYSEAMERICAN:GRO)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $4.75 price objective on the stock. HC Wainwright‘s target price would suggest a potential upside of 150.00% from the stock’s previous close.

Separately, Canaccord Genuity Group assumed coverage on Brazil Potash in a report on Tuesday, July 21st. They set a “speculative buy” rating and a $5.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Brazil Potash presently has an average rating of “Moderate Buy” and an average price target of $5.00.

Brazil Potash Stock Performance

GRO opened at $1.90 on Tuesday. Brazil Potash has a twelve month low of $1.58 and a twelve month high of $3.99. The firm’s 50-day moving average price is $2.15 and its 200 day moving average price is $2.36.

Brazil Potash (NYSEAMERICAN:GRO) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09.

Hedge Funds Weigh In On Brazil Potash

A number of institutional investors have recently bought and sold shares of GRO. Squarepoint Ops LLC purchased a new stake in shares of Brazil Potash in the 2nd quarter valued at approximately $163,000. AWM Investment Company Inc. acquired a new stake in shares of Brazil Potash during the 2nd quarter worth approximately $10,750,000. Bank of America Corp DE increased its holdings in shares of Brazil Potash by 5,630.7% during the 1st quarter. Bank of America Corp DE now owns 156,277 shares of the company’s stock worth $506,000 after buying an additional 153,550 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Brazil Potash by 4.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 138,839 shares of the company’s stock worth $450,000 after buying an additional 5,937 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Brazil Potash by 130.4% during the 1st quarter. Renaissance Technologies LLC now owns 344,700 shares of the company’s stock valued at $1,117,000 after buying an additional 195,100 shares during the period.

About Brazil Potash

Brazil Potash Corp. is a mineral development company focused on advancing potash production in Brazil. The company’s principal asset is the Autazes Potash Project in the state of Amazonas, which is intended to produce potash, primarily in the form of muriate of potash (MOP), a potassium-based fertilizer used in agricultural applications.

The Autazes project is designed to develop underground potash resources and associated processing and transportation infrastructure. Brazil Potash aims to supply Brazilian farmers and reduce the country’s reliance on imported potash fertilizers, supporting agricultural markets across Brazil.