Ero Copper Corp. (NYSE:ERO) Receives $26.33 Consensus Target Price from Analysts

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned an average recommendation of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $26.33.

Several equities research analysts have recently weighed in on ERO shares. Bank of America started coverage on shares of Ero Copper in a research note on Tuesday, September 3rd. They set a “buy” rating and a $28.00 target price for the company. The Goldman Sachs Group assumed coverage on Ero Copper in a research note on Monday, December 2nd. They issued a “buy” rating and a $19.00 target price on the stock. Raymond James upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Finally, StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Raymond James & Associates grew its stake in shares of Ero Copper by 19.0% during the 2nd quarter. Raymond James & Associates now owns 63,751 shares of the company’s stock worth $1,363,000 after purchasing an additional 10,200 shares during the period. K.J. Harrison & Partners Inc purchased a new position in Ero Copper in the second quarter valued at about $1,581,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ero Copper by 6.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after acquiring an additional 1,277 shares during the period. Van ECK Associates Corp boosted its stake in shares of Ero Copper by 24.7% during the 2nd quarter. Van ECK Associates Corp now owns 132,893 shares of the company’s stock worth $2,841,000 after acquiring an additional 26,305 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Ero Copper by 8.4% in the 2nd quarter. CIBC Asset Management Inc now owns 114,086 shares of the company’s stock worth $2,437,000 after acquiring an additional 8,825 shares during the period. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Stock Down 4.4 %

ERO stock opened at $12.81 on Thursday. Ero Copper has a 12 month low of $12.81 and a 12 month high of $24.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 75.35 and a beta of 1.12. The company has a fifty day moving average price of $16.85 and a 200 day moving average price of $19.26.

About Ero Copper

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.