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

Brazil Potash (NYSEAMERICAN:GRO)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a report issued on Thursday, Benzinga reports. They currently have a $4.75 price target on the stock. HC Wainwright‘s target price would suggest a potential upside of 165.36% from the stock’s current price.

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

Brazil Potash Trading Down 4.3%

Shares of NYSEAMERICAN GRO opened at $1.79 on Thursday. The stock’s 50 day moving average is $2.27. Brazil Potash has a 1-year low of $1.63 and a 1-year high of $3.99.

Brazil Potash (NYSEAMERICAN:GRO) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Brazil Potash

Hedge funds and other institutional investors have recently modified their holdings of the business. AWM Investment Company Inc. purchased a new position in Brazil Potash during the 2nd quarter valued at $10,750,000. Hollencrest Capital Management grew its position in Brazil Potash by 223.2% in the 1st quarter. Hollencrest Capital Management now owns 347,435 shares of the company’s stock valued at $1,126,000 after acquiring an additional 239,936 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Brazil Potash in the second quarter worth $163,000. Bank of America Corp DE increased its stake in Brazil Potash by 5,630.7% in the first quarter. Bank of America Corp DE now owns 156,277 shares of the company’s stock worth $506,000 after purchasing an additional 153,550 shares during the period. Finally, Integral Investment Advisors Inc. purchased a new stake in Brazil Potash in the first quarter worth $36,000.

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.