Brokerages Set Ero Copper Corp. (NYSE:ERO) Target Price at $31.50

Ero Copper Corp. (NYSE:ERO) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $31.50.

Several equities research analysts have issued reports on ERO shares. Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Sunday. The Goldman Sachs Group cut Ero Copper from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $31.00 in a report on Tuesday, April 14th. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th.

Ero Copper Price Performance

NYSE:ERO opened at $25.87 on Friday. The company has a market cap of $2.70 billion, a P/E ratio of 9.21 and a beta of 1.20. The firm’s fifty day moving average price is $27.85 and its two-hundred day moving average price is $28.92. Ero Copper has a one year low of $12.79 and a one year high of $39.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81.

Ero Copper (NYSE:ERO) last posted its earnings results on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The company had revenue of $263.20 million during the quarter, compared to analysts’ expectations of $245.51 million. Equities analysts expect that Ero Copper will post 4.06 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC acquired a new stake in shares of Ero Copper in the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Ero Copper in the fourth quarter valued at approximately $38,000. Kestra Advisory Services LLC acquired a new stake in Ero Copper during the fourth quarter worth approximately $56,000. Banque Cantonale Vaudoise acquired a new stake in Ero Copper during the third quarter worth approximately $111,000. Finally, SG Americas Securities LLC bought a new stake in shares of Ero Copper during the 4th quarter valued at $115,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

About Ero Copper

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.