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

Shares of Ero Copper Corp. (NYSE:ERO) have received an average recommendation of “Moderate Buy” from the seventeen analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $32.3333.

A number of research firms recently commented on ERO. Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. Finally, Bradesco Corretora raised shares of Ero Copper to an “outperform” rating in a research note on Monday, July 20th.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $37.19 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The business’s fifty day moving average price is $29.83 and its two-hundred day moving average price is $29.05. The stock has a market cap of $3.88 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 0.31 and a beta of 1.21. Ero Copper has a one year low of $13.91 and a one year high of $40.83.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share 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 company had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. On average, analysts forecast that Ero Copper will post 3.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ero Copper in the fourth quarter valued at $38,000. PenderFund Capital Management Ltd. purchased a new position in Ero Copper during the second quarter worth about $39,000. Kestra Advisory Services LLC purchased a new position in Ero Copper during the fourth quarter worth about $56,000. Banque Cantonale Vaudoise acquired a new stake in Ero Copper in the 3rd quarter worth about $111,000. Finally, Shay Capital LLC acquired a new stake in Ero Copper in the 3rd quarter worth about $202,000. Hedge funds and other 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.