Ero Copper Corp. (NYSE:ERO) Receives $24.00 Average PT from Analysts

Ero Copper Corp. (NYSE:ERO) has been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $24.00.

A number of analysts have weighed in on ERO shares. Jefferies Financial Group initiated coverage on shares of Ero Copper in a report on Friday. They issued a “hold” rating for the company. Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a research note on Friday, March 8th.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $20.82 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average price of $19.16 and a 200 day moving average price of $16.16. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 21.24 and a beta of 1.21. Ero Copper has a twelve month low of $11.35 and a twelve month high of $24.38.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. The business had revenue of $116.41 million during the quarter, compared to the consensus estimate of $104.20 million. During the same period in the prior year, the company posted $0.24 earnings per share. Research analysts predict that Ero Copper will post 1.6 earnings per share for the current year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently made changes to their positions in the business. Acuitas Investments LLC lifted its position in shares of Ero Copper by 61.5% during the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock worth $33,000 after buying an additional 800 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Ero Copper by 7.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,636 shares of the company’s stock valued at $201,000 after acquiring an additional 843 shares during the period. Raymond James & Associates boosted its stake in shares of Ero Copper by 2.7% in the 4th quarter. Raymond James & Associates now owns 50,551 shares of the company’s stock valued at $798,000 after purchasing an additional 1,346 shares in the last quarter. Keybank National Association OH grew its holdings in shares of Ero Copper by 13.3% in the 3rd quarter. Keybank National Association OH now owns 13,310 shares of the company’s stock worth $229,000 after purchasing an additional 1,560 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Ero Copper by 3.2% during the 4th quarter. CIBC Asset Management Inc now owns 90,121 shares of the company’s stock worth $1,429,000 after purchasing an additional 2,772 shares in the last quarter. 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.