Brazil Potash (NYSEAMERICAN:GRO) Coverage Initiated by Analysts at Canaccord Genuity Group

Analysts at Canaccord Genuity Group initiated coverage on shares of Brazil Potash (NYSEAMERICAN:GRO) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set a “speculative buy” rating and a $5.00 price target on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 136.97% from the company’s previous close.

A number of other research analysts also recently weighed in on GRO. HC Wainwright initiated coverage on Brazil Potash in a research note on Tuesday, June 16th. They issued a “buy” rating and a $4.75 price target on the stock. Zacks Research raised Brazil Potash from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Roth Capital reiterated a “buy” rating and issued a $5.25 price objective on shares of Brazil Potash in a report on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Brazil Potash Trading Down 0.9%

Brazil Potash stock traded down $0.02 during trading hours on Tuesday, reaching $2.11. 23,310 shares of the company’s stock traded hands, compared to its average volume of 627,538. Brazil Potash has a fifty-two week low of $1.45 and a fifty-two week high of $3.99. The business’s 50 day moving average price is $2.33.

Brazil Potash (NYSEAMERICAN:GRO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.31 EPS for the quarter.

Institutional Investors Weigh In On Brazil Potash

Several large investors have recently made changes to their positions in the stock. Integral Investment Advisors Inc. bought a new stake in Brazil Potash during the first quarter worth $36,000. Ferguson Shapiro LLC acquired a new position in Brazil Potash during the first quarter worth approximately $45,000. Walleye Capital LLC acquired a new stake in shares of Brazil Potash in the first quarter valued at approximately $274,000. EverSource Wealth Advisors LLC raised its stake in Brazil Potash by 4.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 138,839 shares of the company’s stock valued at $450,000 after acquiring an additional 5,937 shares during the period. Finally, Bank of America Corp DE boosted 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 period.

Brazil Potash Company Profile

Brazil Potash Corp is a mineral exploration and development company with a potash mining project located in the state of Amazonas, Brazil. The company’s technical operations are based in Autazes, Amazonas, Brazil, and Belo Horizonte, Minas Gerais, Brazil. The operating activities of the company include focusing on the extraction and processing of potash ore from the mines of the Autazes Project and selling and distributing the processed potash in Brazil.