Brokerages Set Ero Copper Corp. (NYSE:ERO) Price Target at $32.00

Shares of Ero Copper Corp. (NYSE:ERO) have been given an average recommendation of “Buy” by the seven analysts that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $30.00.

A number of research firms have recently issued reports on ERO. BMO Capital Markets upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. Ventum Cap Mkts raised Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd. Scotiabank upgraded Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 30th. StockNews.com downgraded Ero Copper from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Finally, Bank of America started coverage on shares of Ero Copper in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price objective on the stock.

Ero Copper Stock Performance

Shares of ERO opened at $18.28 on Tuesday. The stock has a market capitalization of $1.89 billion, a P/E ratio of 28.12 and a beta of 1.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. Ero Copper has a 1 year low of $11.35 and a 1 year high of $24.34. The company’s fifty day moving average is $20.26 and its two-hundred day moving average is $20.11.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $117.10 million for the quarter. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. During the same quarter last year, the firm earned $0.24 earnings per share. On average, sell-side analysts predict that Ero Copper will post 1.83 earnings per share for the current year.

Institutional Investors Weigh In On Ero Copper

Several hedge funds have recently modified their holdings of the company. Platinum Investment Management Ltd. purchased a new position in shares of Ero Copper during the fourth quarter valued at approximately $257,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Ero Copper during the fourth quarter worth $5,763,000. TD Asset Management Inc grew its position 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 during the period. Montrusco Bolton Investments Inc. increased its stake in 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 during the last quarter. Finally, Boston Partners lifted its position in Ero Copper by 226.9% during the first quarter. Boston Partners now owns 726,068 shares of the company’s stock worth $14,010,000 after buying an additional 503,972 shares during the period. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Company Profile

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.