Brazil Potash (NYSEAMERICAN:GRO) Announces Quarterly Earnings Results

Brazil Potash (NYSEAMERICAN:GRO) posted its earnings results on Wednesday. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.09, Zacks reports.

Brazil Potash Trading Down 1.8%

GRO stock traded down $0.03 during trading on Wednesday, hitting $1.68. The stock had a trading volume of 173,754 shares, compared to its average volume of 480,344. The company’s 50 day moving average price is $2.21 and its two-hundred day moving average price is $2.37. Brazil Potash has a 1-year low of $1.63 and a 1-year high of $3.99.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Canaccord Genuity Group assumed coverage on Brazil Potash in a research report on Tuesday, July 21st. They set a “speculative buy” rating and a $5.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $4.75 target price on shares of Brazil Potash in a report on Thursday, October 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.00.

About Brazil Potash

Brazil Potash Corp. is a mineral development company focused on advancing potash production in Brazil. The company’s principal asset is the Autazes Potash Project in the state of Amazonas, which is intended to produce potash, primarily in the form of muriate of potash (MOP), a potassium-based fertilizer used in agricultural applications.

The Autazes project is designed to develop underground potash resources and associated processing and transportation infrastructure. Brazil Potash aims to supply Brazilian farmers and reduce the country’s reliance on imported potash fertilizers, supporting agricultural markets across Brazil.