Ero Copper Corp. (NYSE:ERO) Receives $31.50 Consensus Price Target from Analysts

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned an average rating of “Hold” from the seventeen research firms that are presently covering the company, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $31.50.

A number of research firms recently weighed in on ERO. Raymond James Financial cut shares of Ero Copper from a “moderate buy” rating to a “hold” rating in a report on Monday, February 9th. Bank of America cut shares of Ero Copper from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. Canaccord Genuity Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, January 14th. The Goldman Sachs Group cut shares of Ero Copper from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $33.00 to $31.00 in a report on Tuesday, April 14th. Finally, Zacks Research cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th.

Ero Copper Stock Down 2.6%

ERO stock opened at $25.18 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64. Ero Copper has a fifty-two week low of $12.50 and a fifty-two week high of $39.80. The firm’s 50-day simple moving average is $28.34 and its 200 day simple moving average is $27.23. The stock has a market cap of $2.63 billion, a PE ratio of 9.91 and a beta of 1.13.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Thursday, March 5th. The company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). Ero Copper had a return on equity of 27.09% and a net margin of 33.56%.The firm had revenue of $320.20 million during the quarter, compared to analyst estimates of $430.46 million. As a group, sell-side analysts predict that Ero Copper will post 4.05 EPS for the current year.

Hedge Funds Weigh In On Ero Copper

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. grew its position in Ero Copper by 2.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company’s stock valued at $503,000 after buying an additional 380 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Ero Copper by 3.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company’s stock valued at $513,000 after buying an additional 574 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Ero Copper in the 4th quarter valued at about $25,000. Public Employees Retirement System of Ohio grew its position in Ero Copper by 3.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company’s stock valued at $933,000 after buying an additional 1,107 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Ero Copper in the 4th quarter valued at about $38,000. Institutional investors own 71.30% of the company’s stock.

About Ero Copper

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.