Ero Copper Corp. (NYSE:ERO) Receives $31.50 Average Price Target from Analysts

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $31.50.

ERO has been the topic of a number of recent analyst reports. Scotiabank restated an “outperform” rating on shares of Ero Copper in a research report on Monday. The Goldman Sachs Group cut Ero Copper from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th. Wall Street Zen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Finally, National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th.

Ero Copper Price Performance

Shares of Ero Copper stock opened at $29.74 on Monday. Ero Copper has a twelve month low of $12.79 and a twelve month high of $39.80. 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 50-day simple moving average of $28.58 and a two-hundred day simple moving average of $28.82. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 10.58 and a beta of 1.17.

Ero Copper (NYSE:ERO) last released its earnings results on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.13. Ero Copper had a return on equity of 27.33% and a net margin of 31.63%.The company had revenue of $263.20 million for the quarter, compared to analyst estimates of $245.51 million. Analysts forecast that Ero Copper will post 3.92 EPS for the current year.

Institutional Trading of Ero Copper

A number of institutional investors and hedge funds have recently made changes to their positions in the company. TD Waterhouse Canada Inc. lifted its holdings in shares of Ero Copper by 2.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company’s stock worth $503,000 after acquiring an additional 380 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Ero Copper by 3.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company’s stock worth $513,000 after acquiring an additional 574 shares during the period. FNY Investment Advisers LLC bought a new position in Ero Copper in the 4th quarter valued at approximately $25,000. Public Employees Retirement System of Ohio lifted its stake in Ero Copper by 3.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company’s stock valued at $933,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Ero Copper in the 4th quarter valued at approximately $38,000. Institutional investors 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.