Ero Copper Corp. (NYSE:ERO) Receives $30.00 Consensus Target Price from Analysts

Ero Copper Corp. (NYSE:ERO) has earned an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $30.00.

A number of equities research analysts have recently issued reports on ERO shares. Bank of America assumed coverage on Ero Copper in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 target price for the company. Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Ventum Cap Mkts upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Finally, StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday.

Ero Copper Price Performance

Ero Copper stock opened at $19.39 on Wednesday. The firm has a fifty day moving average of $20.60 and a 200-day moving average of $20.68. Ero Copper has a 52-week low of $11.35 and a 52-week high of $24.34. 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 capitalization of $2.00 billion, a P/E ratio of -102.05 and a beta of 1.20.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. The firm had revenue of $117.10 million during the quarter. During the same period last year, the company posted $0.24 earnings per share. As a group, analysts predict that Ero Copper will post 1.16 EPS for the current year.

Hedge Funds Weigh In On Ero Copper

A number of institutional investors have recently made changes to their positions in ERO. Jennison Associates LLC increased its stake in shares of Ero Copper by 39.0% in the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock worth $77,117,000 after buying an additional 1,121,095 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Ero Copper by 4.1% in the 1st quarter. Russell Investments Group Ltd. now owns 783,756 shares of the company’s stock worth $15,111,000 after purchasing an additional 30,665 shares during the last quarter. Boston Partners increased its position in shares of Ero Copper by 226.9% in the 1st quarter. Boston Partners now owns 726,068 shares of the company’s stock worth $14,010,000 after purchasing an additional 503,972 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ero Copper by 32.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock valued at $9,922,000 after purchasing an additional 115,002 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its position in shares of Ero Copper by 22.5% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock worth $7,266,000 after purchasing an additional 62,500 shares during the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

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.