Ero Copper Corp. (NYSE:ERO) Stock Has Average Target Price of $32.33 According to Brokerages

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $32.33.

A number of equities analysts have issued reports on ERO shares. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Ero Copper in a report on Wednesday, September 23rd. Zacks Research raised Ero Copper from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 15th. Freedom Broker cut Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Bradesco Corretora downgraded Ero Copper from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 2nd. Finally, Wall Street Zen lowered Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently made changes to their positions in the company. Cape Ann Asset Management Ltd increased its position in shares of Ero Copper by 13.5% during the 1st quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock worth $51,983,000 after purchasing an additional 231,485 shares during the last quarter. Kapitalo Investimentos Ltda raised its stake in shares of Ero Copper by 0.5% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 1,082,320 shares of the company’s stock worth $39,710,000 after purchasing an additional 5,624 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of Ero Copper by 34.3% during the 3rd quarter. Artemis Investment Management LLP now owns 893,832 shares of the company’s stock worth $32,837,000 after purchasing an additional 228,194 shares in the last quarter. Impala Asset Management LLC acquired a new stake in shares of Ero Copper in the 2nd quarter valued at approximately $31,201,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Ero Copper by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 986,385 shares of the company’s stock valued at $26,298,000 after buying an additional 28,231 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Price Performance

Shares of NYSE ERO opened at $32.84 on Friday. 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 has a 1-year low of $19.09 and a 1-year high of $40.83. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.27 and a beta of 1.27. The business has a 50-day moving average of $36.06 and a 200-day moving average of $30.86.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. On average, equities analysts anticipate that Ero Copper will post 4.28 EPS for the current fiscal year.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company’s principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.