Brokerages Set Ero Copper Corp. (NYSE:ERO) Price Target at $32.33

Ero Copper Corp. (NYSE:ERO) has earned an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $32.3333.

ERO has been the topic of several analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. TD Securities reissued a “hold” rating on shares of Ero Copper in a research report on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Finally, Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $34.00 in a research note on Thursday, July 16th.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new position in Ero Copper during the fourth quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in Ero Copper in the 4th quarter valued at about $38,000. Kestra Advisory Services LLC purchased a new stake in Ero Copper in the 4th quarter valued at about $56,000. Banque Cantonale Vaudoise acquired a new position in shares of Ero Copper during the 3rd quarter valued at about $111,000. Finally, SG Americas Securities LLC purchased a new position in shares of Ero Copper during the 4th quarter worth about $115,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Stock Up 10.3%

Shares of NYSE:ERO opened at $34.32 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $3.58 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.27 and a beta of 1.21. Ero Copper has a 52-week low of $13.37 and a 52-week high of $39.80. The stock’s fifty day simple moving average is $27.42 and its 200-day simple moving average is $28.67.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%.The firm had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. As a group, equities research analysts forecast that Ero Copper will post 4.02 earnings per share for the current fiscal 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.