Ero Copper Corp. (NYSE:ERO) Receives $24.00 Consensus Target Price from Analysts

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned an average recommendation of “Hold” from the five analysts that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $24.00.

A number of research analysts have commented on the stock. Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. Jefferies Financial Group began coverage on Ero Copper in a research note on Friday, May 3rd. They issued a “hold” rating for the company. Finally, TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a research note on Friday, March 8th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ERO. FMR LLC boosted its stake in Ero Copper by 3.7% in the third quarter. FMR LLC now owns 10,719,365 shares of the company’s stock valued at $184,832,000 after acquiring an additional 379,686 shares during the period. Jennison Associates LLC lifted its holdings in shares of Ero Copper by 39.0% in the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock worth $77,117,000 after purchasing an additional 1,121,095 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Ero Copper by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock worth $35,715,000 after buying an additional 461,998 shares during the last quarter. Impala Asset Management LLC increased its position in Ero Copper by 23.1% in the third quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock worth $31,661,000 after buying an additional 344,410 shares during the period. Finally, Montrusco Bolton Investments Inc. lifted 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 buying an additional 203,613 shares during the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Trading Down 1.3 %

NYSE:ERO opened at $20.91 on Wednesday. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 21.34 and a beta of 1.21. Ero Copper has a one year low of $11.35 and a one year high of $24.38. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.94 and a current ratio of 1.23. The business’s 50-day simple moving average is $19.34 and its 200 day simple moving average is $16.26.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. The business had revenue of $116.41 million for the quarter, compared to analysts’ expectations of $104.20 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. As a group, sell-side analysts predict that Ero Copper will post 1.6 earnings per share for the current fiscal year.

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.