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

Ero Copper Corp. (NYSE:ERO) has been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are presently covering the stock, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $32.33.

Several research analysts have weighed in on the company. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Ero Copper in a report on Wednesday. Freedom Broker downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Bradesco Corretora lowered Ero Copper from an “outperform” rating to a “neutral” rating in a research report on Wednesday, September 2nd. TD Securities reiterated a “hold” rating on shares of Ero Copper in a report on Friday, August 7th. Finally, Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th.

Ero Copper Trading Up 2.0%

Shares of NYSE ERO opened at $37.87 on Wednesday. The company’s fifty day moving average is $33.48 and its 200-day moving average is $29.60. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 0.29 and a beta of 1.27. Ero Copper has a twelve month low of $18.02 and a twelve month high of $40.83. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 EPS 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 analysts’ expectations of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. Equities research analysts predict that Ero Copper will post 4.28 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Engineers Gate Manager LP lifted its holdings in shares of Ero Copper by 0.8% in the second quarter. Engineers Gate Manager LP now owns 37,573 shares of the company’s stock valued at $1,005,000 after purchasing an additional 285 shares in the last quarter. Corient Private Wealth LP grew its holdings in shares of Ero Copper by 4.0% during the second quarter. Corient Private Wealth LP now owns 9,046 shares of the company’s stock worth $242,000 after buying an additional 348 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Ero Copper during the fourth quarter worth about $38,000. PenderFund Capital Management Ltd. acquired a new stake in Ero Copper in the 2nd quarter valued at approximately $39,000. Finally, Banque Cantonale Vaudoise raised its position in Ero Copper by 20.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,000 shares of the company’s stock valued at $239,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 71.30% of the company’s stock.

About Ero Copper

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper and associated mineral products. The company’s operations are located in Brazil, where it produces copper concentrate and may recover gold and other byproducts from its mineral deposits.

Ero Copper’s principal assets include the Caraíba Operations in the state of Bahia and the Tucumã Project in the state of Pará. Caraíba is an established copper mining complex that includes underground and open-pit mines, processing facilities and related infrastructure.