Ero Copper Corp. (NYSE:ERO) Receives $30.00 Average PT from Analysts

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned a consensus recommendation of “Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $30.00.

Several research firms have issued reports on ERO. Ventum Cap Mkts raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 22nd. Raymond James raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 3rd. BMO Capital Markets raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. Bank of America began coverage on shares of Ero Copper in a research report on Tuesday, September 3rd. They set a “buy” rating and a $28.00 price target on the stock. Finally, Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th.

Hedge Funds Weigh In On Ero Copper

Several institutional investors and hedge funds have recently modified their holdings of ERO. Franklin Resources Inc. increased its holdings in shares of Ero Copper by 81.4% in the fourth quarter. Franklin Resources Inc. now owns 351,800 shares of the company’s stock valued at $5,562,000 after purchasing an additional 157,900 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Ero Copper by 48.7% in the fourth quarter. TD Asset Management Inc now owns 595,283 shares of the company’s stock valued at $9,458,000 after acquiring an additional 194,976 shares in the last quarter. Scotia Capital Inc. grew its stake in shares of Ero Copper by 290.6% in the fourth quarter. Scotia Capital Inc. now owns 292,968 shares of the company’s stock valued at $4,617,000 after acquiring an additional 217,968 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Ero Copper by 3.2% in the fourth quarter. CIBC Asset Management Inc now owns 90,121 shares of the company’s stock valued at $1,429,000 after acquiring an additional 2,772 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Ero Copper by 3.3% in the fourth quarter. 1832 Asset Management L.P. now owns 439,463 shares of the company’s stock valued at $6,939,000 after acquiring an additional 14,037 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Stock Performance

Shares of ERO stock opened at $21.87 on Friday. The company’s fifty day simple moving average is $20.28 and its 200-day simple moving average is $20.64. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59. The firm has a market cap of $2.26 billion, a PE ratio of 33.65 and a beta of 1.20. Ero Copper has a 12 month low of $11.35 and a 12 month high of $24.34.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $117.10 million for the quarter. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. During the same period in the prior year, the firm earned $0.24 EPS. Equities research analysts expect that Ero Copper will post 1.68 EPS for the current fiscal year.

Ero Copper Company Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.