Brazilians are Latin and definitely not Hispanic. Latin is not a racial term (and that's why Brazilians tend to find the racialized term "Latino" as used in the US repellent), and has nothing to do with your appearance or genes: it means you speak a language that was derived from Latin as a first language. Angolans are Latin, the French are Latin, Romanians are Latin, etc. Some Swiss are Latin, some are not. So, Brazilians can be Latin, White and non-Hispanic all at once.

Hispanic is something related to Spain. Spaniards are definitely Hispanic, Colombians, Argentines, etc. are (in a more distant sense) Hispanic.