Ero Copper Corp. (NYSE:ERO) Receives $25.00 Average Target Price from Analysts

Ero Copper Corp. (NYSE:ERO) has earned an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the company, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $25.00.

ERO has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ero Copper in a report on Wednesday, October 8th. National Bankshares reaffirmed a “sector perform” rating on shares of Ero Copper in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. The Goldman Sachs Group boosted their price objective on shares of Ero Copper from $18.50 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Raymond James Financial restated an “outperform” rating on shares of Ero Copper in a research report on Friday, October 10th.

Ero Copper Stock Performance

Shares of ERO stock opened at $25.25 on Thursday. The stock’s 50-day moving average is $21.47 and its two-hundred day moving average is $17.20. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05. Ero Copper has a 1 year low of $9.30 and a 1 year high of $25.78. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 18.43 and a beta of 1.25.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09). The firm had revenue of $177.10 million during the quarter, compared to analyst estimates of $309.30 million. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. Analysts predict that Ero Copper will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERO. J. Safra Sarasin Holding AG lifted its stake in shares of Ero Copper by 3.2% during the 1st quarter. J. Safra Sarasin Holding AG now owns 24,266 shares of the company’s stock worth $294,000 after purchasing an additional 753 shares during the period. PenderFund Capital Management Ltd. increased its stake in Ero Copper by 0.7% in the first quarter. PenderFund Capital Management Ltd. now owns 123,492 shares of the company’s stock valued at $1,497,000 after purchasing an additional 836 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Ero Copper by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock worth $948,000 after buying an additional 1,152 shares during the period. Northwest & Ethical Investments L.P. boosted its stake in Ero Copper by 22.6% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock worth $97,000 after buying an additional 1,483 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Ero Copper by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock valued at $936,000 after buying an additional 1,823 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.