Brazil Potash (NYSEAMERICAN:GRO) Trading Up 1.2% – Should You Buy?

Brazil Potash Corp. (NYSEAMERICAN:GRO)’s stock price was up 1.2% during mid-day trading on Thursday . The stock traded as high as $2.49 and last traded at $2.48. Approximately 649,012 shares changed 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

Several research analysts have recently issued reports on GRO shares. Zacks Research downgraded shares of Brazil Potash from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Roth Mkm restated a “buy” rating and issued a $5.25 price objective on shares of Brazil Potash in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.25.

Brazil Potash Stock Performance

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

Hedge Funds Weigh In On Brazil Potash

Several large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in Brazil Potash by 4.5% in the 1st 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 during the last quarter. Integral Investment Advisors Inc. purchased a new stake in Brazil Potash in the 1st quarter valued at about $36,000. Ferguson Shapiro LLC purchased a new stake in Brazil Potash in the 1st quarter valued at about $45,000. Walleye Capital LLC purchased a new stake in Brazil Potash in the 1st quarter valued at about $274,000. Finally, Bank of America Corp DE increased its stake in Brazil Potash by 5,630.7% in the 1st quarter. Bank of America Corp DE now owns 156,277 shares of the company’s stock valued at $506,000 after buying 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.