Ero Copper Corp. (NYSE:ERO) Receives $31.50 Average PT from Analysts

Ero Copper Corp. (NYSE:ERO) has earned an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the firm, Marketbeat Ratings reports. Ten 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 twelve-month price target among analysts that have issued a report on the stock in the last year is $31.50.

Several brokerages have commented on ERO. ATB Cormark Capital Markets raised shares of Ero Copper to a “moderate buy” rating in a research report on Friday, February 6th. Zacks Research lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Raymond James Financial lowered shares of Ero Copper from a “moderate buy” rating to a “hold” rating in a research report on Monday, February 9th. Bank of America lowered shares of Ero Copper from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Finally, The Goldman Sachs Group lowered shares of Ero Copper from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th.

Institutional Trading of Ero Copper

Hedge funds and other institutional investors have recently modified their holdings of the business. Kapitalo Investimentos Ltda raised its position in shares of Ero Copper by 86.0% in the third quarter. Kapitalo Investimentos Ltda now owns 1,076,696 shares of the company’s stock valued at $21,782,000 after purchasing an additional 497,978 shares during the period. Citigroup Inc. raised its position in shares of Ero Copper by 2,198.1% in the third quarter. Citigroup Inc. now owns 88,729 shares of the company’s stock valued at $1,798,000 after purchasing an additional 84,868 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Ero Copper in the third quarter valued at approximately $12,599,000. Quantbot Technologies LP bought a new stake in shares of Ero Copper in the third quarter valued at approximately $1,267,000. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Ero Copper in the fourth quarter valued at approximately $1,142,000. Institutional investors own 71.30% of the company’s stock.

Ero Copper Stock Performance

Shares of ERO stock opened at $27.00 on Thursday. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 9.61 and a beta of 1.13. 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 52 week low of $12.79 and a 52 week high of $39.80. The firm’s 50-day simple moving average is $27.48 and its two-hundred day simple moving average is $27.95.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.56 by $0.13. The business had revenue of $263.20 million for the quarter, compared to analyst estimates of $245.51 million. Ero Copper had a net margin of 31.63% and a return on equity of 29.86%. As a group, equities analysts forecast that Ero Copper will post 3.9 earnings per share for the current year.

Ero Copper Company Profile

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.