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

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $32.50.

ERO has been the topic of several recent analyst reports. Zacks Research cut Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Raymond James Financial cut Ero Copper from a “moderate buy” rating to a “hold” rating in a report on Monday, February 9th. Freedom Capital upgraded Ero Copper to a “strong-buy” rating in a research report on Tuesday, December 30th. Bank of America cut Ero Copper from a “buy” rating to a “neutral” rating in a research note on Monday, February 9th. Finally, ATB Cormark Capital Markets upgraded Ero Copper to a “moderate buy” rating in a report on Friday, February 6th.

Ero Copper Price Performance

Shares of Ero Copper stock opened at $28.18 on Friday. The firm has a market cap of $2.94 billion, a PE ratio of 11.09 and a beta of 1.17. Ero Copper has a 12-month low of $9.30 and a 12-month high of $39.80. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64. The company’s fifty day simple moving average is $31.34 and its two-hundred day simple moving average is $24.71.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ERO. FNY Investment Advisers LLC bought a new stake in shares of Ero Copper during the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ero Copper during the fourth quarter valued at about $38,000. Kestra Advisory Services LLC bought a new position in Ero Copper in the fourth quarter worth about $56,000. Banque Cantonale Vaudoise bought a new position in Ero Copper in the third quarter worth about $111,000. Finally, SG Americas Securities LLC purchased a new stake in Ero Copper in the fourth quarter worth about $115,000. 71.30% of the stock is currently owned by institutional investors.

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.