Ero Copper Corp. (NYSE:ERO) Stock Has Consensus Target Price of $32.33

Shares of Ero Copper Corp. (NYSE:ERO) have received a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $32.33.

A number of brokerages have recently weighed in on ERO. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research note on Tuesday, September 1st. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Bradesco Corretora cut Ero Copper from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 2nd. Finally, Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and boosted their price target for the company from $30.00 to $34.00 in a report on Thursday, July 16th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ERO. Hillsdale Investment Management Inc. increased its stake in shares of Ero Copper by 602.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company’s stock valued at $47,767,000 after purchasing an additional 1,445,645 shares during the period. Impala Asset Management LLC acquired a new position in shares of Ero Copper during the second quarter worth approximately $31,201,000. Kapitalo Investimentos Ltda bought a new position in Ero Copper in the 2nd quarter worth approximately $28,802,000. Arrowstreet Capital Limited Partnership grew its holdings in Ero Copper by 4,913.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock worth $26,000,000 after buying an additional 955,487 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in Ero Copper in the 2nd quarter valued at approximately $25,121,000. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Price Performance

ERO opened at $37.16 on Wednesday. Ero Copper has a 52-week low of $19.09 and a 52-week high of $40.83. The company has a 50 day moving average of $33.93 and a two-hundred day moving average of $29.74. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The company has a market cap of $3.88 billion, a P/E ratio of 12.47, a P/E/G ratio of 0.29 and a beta of 1.27.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%.The business had revenue of $284.30 million for the quarter, compared to analysts’ expectations of $277.64 million. On average, analysts expect that Ero Copper will post 4.28 earnings per share for the current year.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper and associated mineral products. The company’s operations are located in Brazil, where it produces copper concentrate and may recover gold and other byproducts from its mineral deposits.

Ero Copper’s principal assets include the Caraíba Operations in the state of Bahia and the Tucumã Project in the state of Pará. Caraíba is an established copper mining complex that includes underground and open-pit mines, processing facilities and related infrastructure.