Brazil Potash (NYSEAMERICAN:GRO) Coverage Initiated at Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group initiated coverage on shares of Brazil Potash (NYSEAMERICAN:GRO) in a report issued on Tuesday, Marketbeat.com reports. The firm set a “speculative buy” rating and a $5.00 price target on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 114.59% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. HC Wainwright assumed coverage on Brazil Potash in a report on Tuesday, June 16th. They issued a “buy” rating and a $4.75 price target for the company. Zacks Research raised Brazil Potash from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Roth Capital reiterated 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Brazil Potash Price Performance

Shares of GRO stock opened at $2.33 on Tuesday. Brazil Potash has a 12-month low of $1.45 and a 12-month high of $3.99. The company has a fifty day moving average price of $2.30.

Brazil Potash (NYSEAMERICAN:GRO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.31 EPS for the quarter.

Institutional Trading of Brazil Potash

A number of institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management increased its stake in Brazil Potash by 223.2% in the 1st quarter. Hollencrest Capital Management now owns 347,435 shares of the company’s stock valued at $1,126,000 after buying an additional 239,936 shares during the last quarter. Renaissance Technologies LLC lifted its position in Brazil Potash by 130.4% during the 1st quarter. Renaissance Technologies LLC now owns 344,700 shares of the company’s stock worth $1,117,000 after buying an additional 195,100 shares in the last quarter. Bank of America Corp DE boosted its stake 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 worth $506,000 after buying an additional 153,550 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Brazil Potash during the 1st quarter worth about $274,000. Finally, Ferguson Shapiro LLC bought a new position in shares of Brazil Potash in the 1st quarter valued at about $45,000.

Brazil Potash Company Profile

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.