Brazil Potash (NYSEAMERICAN:GRO) Shares Up 1.2% – Here’s What Happened

Brazil Potash Corp. (NYSEAMERICAN:GRO)’s stock price rose 1.2% on Thursday . The company traded as high as $2.49 and last traded at $2.48. Approximately 649,012 shares traded hands during trading, a decline of 14% from the average daily volume of 754,663 shares. The stock had previously closed at $2.45.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Zacks Research downgraded Brazil Potash from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Roth Mkm restated a “buy” rating and issued a $5.25 target price on shares of Brazil Potash in a research report on Wednesday, April 29th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.25.

Brazil Potash Stock Performance

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

Hedge Funds Weigh In On Brazil Potash

Several large investors have recently bought and sold shares of GRO. Ferguson Shapiro LLC bought a new stake in shares of Brazil Potash during the first quarter worth about $45,000. Integral Investment Advisors Inc. bought a new position in Brazil Potash in the 1st quarter valued at approximately $36,000. Hollencrest Capital Management boosted its position in Brazil Potash by 223.2% during the 1st quarter. Hollencrest Capital Management now owns 347,435 shares of the company’s stock worth $1,126,000 after buying an additional 239,936 shares during the period. Walleye Capital LLC bought a new stake in Brazil Potash during the 1st quarter worth approximately $274,000. Finally, Renaissance Technologies LLC increased its position in Brazil Potash by 130.4% in the 1st quarter. Renaissance Technologies LLC now owns 344,700 shares of the company’s stock valued at $1,117,000 after acquiring an additional 195,100 shares during the period.

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.