Jefferies Financial Group Boosts Ero Copper (NYSE:ERO) Price Target to $32.00

Ero Copper (NYSE:ERO) had its target price lifted by Jefferies Financial Group from $29.00 to $32.00 in a report released on Friday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Other equities analysts have also issued reports about the company. Ventum Cap Mkts lowered Ero Copper from a strong-buy rating to a hold rating in a research note on Tuesday, May 28th. Scotiabank raised Ero Copper from a sector perform rating to a sector outperform rating in a research note on Thursday, May 30th. Pi Financial raised Ero Copper from a neutral rating to a buy rating in a research note on Thursday, April 18th. BMO Capital Markets raised Ero Copper from a market perform rating to an outperform rating in a research note on Wednesday, June 26th. Finally, StockNews.com raised Ero Copper from a sell rating to a hold rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $32.00.

Ero Copper Stock Performance

Shares of ERO stock opened at $22.82 on Friday. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.38. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 35.11 and a beta of 1.19. The business has a 50 day simple moving average of $21.58 and a 200 day simple moving average of $18.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. Ero Copper had a return on equity of 10.68% and a net margin of 14.23%. The business had revenue of $105.80 million during the quarter, compared to analyst estimates of $104.40 million. On average, equities research analysts anticipate that Ero Copper will post 1.7 EPS for the current year.

Institutional Investors Weigh In On Ero Copper

Several large investors have recently modified their holdings of ERO. Platinum Investment Management Ltd. purchased a new stake in shares of Ero Copper in the fourth quarter valued at $257,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Ero Copper in the fourth quarter valued at $5,763,000. TD Asset Management Inc lifted its holdings in shares of Ero Copper by 48.7% in the fourth quarter. TD Asset Management Inc now owns 595,283 shares of the company’s stock valued at $9,458,000 after purchasing an additional 194,976 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in shares of Ero Copper by 31.7% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock valued at $13,435,000 after purchasing an additional 203,613 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Ero Copper by 39.0% in the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after purchasing an additional 1,121,095 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

About Ero Copper

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.