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

Ero Copper Corp. (NYSE:ERO) has earned an average rating of “Moderate Buy” from the eighteen brokerages that are covering the company, Marketbeat Ratings reports. Eleven investment 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 1 year target price among brokerages that have issued a report on the stock in the last year is $32.50.

ERO has been the subject of a number of research reports. Canaccord Genuity Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, January 14th. Loop Capital set a $32.00 price target on shares of Ero Copper in a research note on Tuesday, December 30th. Zacks Research cut Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. The Goldman Sachs Group boosted their price objective on Ero Copper from $25.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Finally, Wall Street Zen raised Ero Copper from a “hold” rating to a “buy” rating in a report on Saturday, March 7th.

Ero Copper Price Performance

Ero Copper stock opened at $26.12 on Friday. The stock has a market capitalization of $2.72 billion, a P/E ratio of 10.28 and a beta of 1.17. The company’s fifty day moving average price is $31.24 and its 200 day moving average price is $24.92. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. Ero Copper has a 1 year low of $9.30 and a 1 year high of $39.80.

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

Institutional Inflows and Outflows

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

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.