Brazil Potash (NYSEAMERICAN:GRO) Stock Falls 2.3% - Time to Sell?

Key Points

• Brazil Potash shares fell 2.3% to $2.14, with trading volume down 69% versus the average session. The stock’s 50-day moving average is $2.32.
• Analysts remain generally positive, with three Buy ratings and one Hold rating, an average “Moderate Buy” consensus, and an average price target of $5.00.
• The company reported a quarterly loss of $0.13 per share. Brazil Potash is developing the Autazes Potash Project in Brazil, which aims to help supply the country’s fertilizer market but remains dependent on permitting, engineering, and infrastructure development.

Shares of Brazil Potash Corp. (NYSEAMERICAN:GRO - Get Free Report) were down 2.3% during trading on Thursday. The stock traded as low as $2.09 and last traded at $2.14. Approximately 153,315 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 502,222 shares. The stock had previously closed at $2.19.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GRO shares. Canaccord Genuity Group assumed coverage on Brazil Potash in a research note on Tuesday, July 21st. They set a "speculative buy" rating and a $5.00 price objective on the stock. HC Wainwright reissued a "buy" rating and issued a $4.75 price objective on shares of Brazil Potash in a research note on Wednesday, August 26th. Finally, Zacks Research upgraded shares of Brazil Potash from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Brazil Potash has an average rating of "Moderate Buy" and an average price target of $5.00.

Brazil Potash Stock Down 2.3%

The stock's 50 day moving average price is $2.32.

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

Hedge Funds Weigh In On Brazil Potash

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted 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 valued at $450,000 after buying an additional 5,937 shares in the last quarter. Integral Investment Advisors Inc. acquired a new position in shares of Brazil Potash during the first quarter worth $36,000. Ferguson Shapiro LLC bought a new position in shares of Brazil Potash in the 1st quarter valued at $45,000. Squarepoint Ops LLC bought a new position in shares of Brazil Potash in the 2nd quarter valued at $163,000. Finally, Walleye Capital LLC acquired a new stake in shares of Brazil Potash during the 1st quarter valued at $274,000.

Brazil Potash Company Profile

Brazil Potash Corp. is a mineral development company focused on advancing the Autazes Potash Project in the state of Amazonas, Brazil. The project is designed to produce potash, primarily potassium chloride, a fertilizer product used to support agricultural productivity.

The Autazes project is located in an agricultural region of Brazil and is intended to help supply the country's domestic fertilizer market. Brazil is one of the world's major agricultural producers but relies substantially on imported potash, giving the project potential strategic importance if it reaches commercial production.

Brazil Potash's activities include exploration, project development, permitting, engineering and efforts to establish the infrastructure required to extract and process potash ore.

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