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

Key Points

• HC Wainwright reaffirmed its Buy rating on Brazil Potash and set a $4.75 price target, implying 165.36% upside from the stock’s $1.79 opening price.
• Canaccord Genuity initiated coverage with a “speculative buy” rating and a $5.00 target; analysts’ consensus is “Moderate Buy” with a $5.00 price target.
• Brazil Potash shares recently traded near the lower end of their 52-week range, from $1.63 to $3.99, while the company reported a quarterly loss of $0.13 per share.

Brazil Potash (NYSEAMERICAN:GRO - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $4.75 price target on the stock. HC Wainwright's price objective would indicate a potential upside of 165.36% from the company's current price.

Separately, Canaccord Genuity Group began coverage on shares of Brazil Potash in a report on Tuesday, July 21st. They set a "speculative buy" rating and a $5.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $5.00.

Brazil Potash Price Performance

Shares of NYSEAMERICAN:GRO opened at $1.79 on Thursday. The stock's fifty day moving average is $2.27. Brazil Potash has a fifty-two week low of $1.63 and a fifty-two week high of $3.99.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Integral Investment Advisors Inc. purchased a new position in shares of Brazil Potash in the first quarter valued at $36,000. Squarepoint Ops LLC bought a new stake in Brazil Potash in the second quarter worth $163,000. Walleye Capital LLC bought a new stake in Brazil Potash in the first quarter worth $274,000. EverSource Wealth Advisors LLC increased its position in Brazil Potash by 4.5% in the first quarter. EverSource Wealth Advisors LLC now owns 138,839 shares of the company's stock worth $450,000 after purchasing an additional 5,937 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Brazil Potash by 5,630.7% during the first quarter. Bank of America Corp DE now owns 156,277 shares of the company's stock valued at $506,000 after purchasing an additional 153,550 shares in the last quarter.

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.

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