Brazil Potash (NYSEAMERICAN:GRO) Receives "Buy" Rating from HC Wainwright

Key Points

• HC Wainwright reaffirmed its “Buy” rating on Brazil Potash and set a $4.75 price target, implying approximately 91.5% upside from the previous close.
• Analyst sentiment remains favorable, with three Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $5.00.
• Brazil Potash shares fell 0.4% to $2.48 in Wednesday trading; the company most recently reported a quarterly loss of $0.13 per share.

Brazil Potash (NYSEAMERICAN:GRO - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $4.75 price target on the stock. HC Wainwright's price objective suggests a potential upside of 91.53% from the stock's previous close.

GRO has been the subject of a number of other reports. Canaccord Genuity Group initiated coverage on Brazil Potash in a research note on Tuesday, July 21st. They issued a "speculative buy" rating and a $5.00 price target for the company. Zacks Research upgraded Brazil Potash from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. Finally, Roth Capital restated a "buy" rating and set a $5.25 price objective on shares of Brazil Potash in a report on Wednesday, April 29th. Three equities 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.com, Brazil Potash currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.00.

Brazil Potash Trading Down 0.4%

Shares of GRO stock traded down $0.01 during trading hours on Wednesday, reaching $2.48. 227,421 shares of the company's stock were exchanged, compared to its average volume of 558,563. Brazil Potash has a fifty-two week low of $1.57 and a fifty-two week high of $3.99. The business's 50 day moving average price is $2.20.

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

Hedge Funds Weigh In On Brazil Potash

Several hedge funds have recently made changes to their positions in the company. AWM Investment Company Inc. acquired a new stake in Brazil Potash during the 2nd quarter worth about $10,750,000. Hollencrest Capital Management increased its holdings in shares of Brazil Potash by 223.2% in the first quarter. Hollencrest Capital Management now owns 347,435 shares of the company's stock valued at $1,126,000 after purchasing an additional 239,936 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Brazil Potash by 130.4% in the first quarter. Renaissance Technologies LLC now owns 344,700 shares of the company's stock valued at $1,117,000 after purchasing an additional 195,100 shares during the period. Bank of America Corp DE raised its stake in shares of 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 last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Brazil Potash in the first quarter worth about $274,000.

About Brazil Potash

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.

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