Brazil Potash (NYSEAMERICAN:GRO) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

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

Brazil Potash Price Performance

GRO traded down $0.07 during trading on Thursday, reaching $1.61. 137,625 shares of the company were exchanged, compared to its average volume of 478,674. Brazil Potash has a 52 week low of $1.61 and a 52 week high of $3.99. The firm has a 50 day moving average of $2.20 and a 200 day moving average of $2.37.

Analysts Set New Price Targets

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