Brazil Potash (NYSEAMERICAN:GRO) Trading Down 1.3% - Here's Why

Key Points

• Brazil Potash shares fell 1.3% to $2.23 in midday trading, with volume down 78% from the average session level.
• Analysts remain broadly positive, with three Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a $5.00 price target.
• Institutional interest increased in the first quarter, including a 5,630.7% position increase by Bank of America and new stakes from several investment firms.

Shares of Brazil Potash Corp. (NYSEAMERICAN:GRO - Get Free Report) fell 1.3% on Tuesday . The stock traded as low as $2.18 and last traded at $2.23. Approximately 127,344 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 581,356 shares. The stock had previously closed at $2.26.

Analyst Ratings Changes

GRO has been the topic of several research analyst reports. Roth Capital reissued a "buy" rating and set a $5.25 target price on shares of Brazil Potash in a research note on Wednesday, April 29th. Zacks Research raised shares of Brazil Potash from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. Canaccord Genuity Group assumed coverage on shares of 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. Finally, HC Wainwright started coverage on shares of Brazil Potash in a report on Tuesday, June 16th. They issued a "buy" rating and a $4.75 price objective for the company. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.00.

Brazil Potash Stock Down 1.3%

The firm has a 50 day simple moving average of $2.19.

Brazil Potash (NYSEAMERICAN:GRO - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported $0.31 earnings per share (EPS) for the quarter.

Institutional Trading of Brazil Potash

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in Brazil Potash by 4.5% during the first quarter. EverSource Wealth Advisors LLC now owns 138,839 shares of the company's stock worth $450,000 after buying an additional 5,937 shares in the last quarter. Integral Investment Advisors Inc. acquired a new position in Brazil Potash in the first quarter worth approximately $36,000. Ferguson Shapiro LLC bought a new position in shares of Brazil Potash in the first quarter valued at $45,000. Walleye Capital LLC bought a new position in shares of Brazil Potash in the first quarter valued at $274,000. Finally, Bank of America Corp DE lifted its position 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 valued at $506,000 after acquiring an additional 153,550 shares during the last quarter.

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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