Brazil Potash (NYSEAMERICAN:GRO) Announces Earnings Results, Beats Estimates By $0.09 EPS

Brazil Potash (NYSEAMERICAN:GRO) released its quarterly earnings results on Wednesday. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09, Zacks reports.

Brazil Potash Price Performance

GRO traded down $0.03 during mid-day trading on Wednesday, hitting $1.68. 173,754 shares of the stock were exchanged, compared to its average volume of 480,344. The firm’s fifty day moving average is $2.21 and its two-hundred day moving average is $2.37. Brazil Potash has a 1-year low of $1.63 and a 1-year high of $3.99.

Analysts Set New Price Targets

GRO has been the topic of several research reports. HC Wainwright reissued a “buy” rating and issued a $4.75 price target on shares of Brazil Potash in a research note on Thursday, October 29th. Canaccord Genuity Group assumed coverage on shares of Brazil Potash in a report on Tuesday, July 21st. They issued a “speculative buy” rating and a $5.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $5.00.

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.