Brazil Potash Corp. (NYSEAMERICAN:GRO) is a top penny stock to watch, with Cantor Fitzgerald initiating coverage and setting a price target at $2.75. The company is progressing on its Autazes potash mining project, aiming for production by 2030. Potash is crucial for agricultural productivity, with Brazil being a major importer.

On December 16, Brazil Potash Corp. (NYSEAMERICAN:GRO) announced its subsidiary’s registration with SUFRAMA, enabling access to tax incentives in the Amazonas Region. This could lead to an estimated $94 million in tax savings during construction, supporting the project’s financial model and showing federal support.

Focused on sustainable fertilizers, Brazil Potash Corp. (NYSEAMERICAN:GRO) aims to supply Brazil’s agricultural export market. While GRO shows potential, some AI stocks may offer greater upside. A report on the best short-term AI stock could provide valuable insights for investors seeking opportunities.

For more investment options, check out the 13 Best Gold Mining Companies and 13 Best Fast Food Stocks to Invest In Now on Insider Monkey. This article is not intended as financial advice and is originally published on Insider Monkey.

Read more at Yahoo Finance: Is Brazil Potash (GRO) One of the Best New Penny Stocks to Invest In?