Brokerages Set Ero Copper Corp. (NYSE:ERO) Target Price at $32.50

Ero Copper Corp. (NYSE:ERO) has been given an average rating of “Moderate Buy” by the eighteen analysts that are currently covering the firm, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $32.50.

A number of equities research analysts have weighed in on ERO shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Ero Copper in a report on Friday, December 5th. Raymond James Financial downgraded shares of Ero Copper from a “moderate buy” rating to a “hold” rating in a research report on Monday, February 9th. Zacks Research lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. ATB Cormark Capital Markets upgraded shares of Ero Copper to a “moderate buy” rating in a research report on Friday, February 6th. Finally, Jefferies Financial Group lowered shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th.

Hedge Funds Weigh In On Ero Copper

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in Ero Copper by 2.3% in the 1st quarter. Royal Bank of Canada now owns 188,384 shares of the company’s stock valued at $2,283,000 after buying an additional 4,325 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Ero Copper in the first quarter worth approximately $217,000. Goldman Sachs Group Inc. boosted its holdings in Ero Copper by 82.0% in the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock worth $3,340,000 after acquiring an additional 124,179 shares in the last quarter. Empowered Funds LLC acquired a new stake in Ero Copper in the first quarter valued at approximately $356,000. Finally, Geode Capital Management LLC grew its stake in Ero Copper by 3.4% in the second quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock valued at $936,000 after acquiring an additional 1,823 shares during the period. Institutional investors own 71.30% of the company’s stock.

Ero Copper Stock Performance

Shares of ERO opened at $28.08 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The firm’s fifty day simple moving average is $29.88 and its two-hundred day simple moving average is $26.02. Ero Copper has a 12 month low of $9.30 and a 12 month high of $39.80. The stock has a market capitalization of $2.93 billion, a P/E ratio of 11.06 and a beta of 1.29.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Thursday, March 5th. The company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). Ero Copper had a net margin of 33.56% and a return on equity of 27.09%. The business had revenue of $320.20 million during the quarter, compared to analyst estimates of $430.46 million. As a group, analysts predict that Ero Copper will post 0.71 EPS for the current year.

Ero Copper Company Profile

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.