Ero Copper Corp. (NYSE:ERO) Receives $26.33 Consensus Target Price from Brokerages

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned an average recommendation of “Buy” from the ten research firms that are currently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $26.33.

Several equities research analysts recently issued reports on the company. TD Securities raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. TD Cowen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group began coverage on shares of Ero Copper in a research report on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective for the company.

Ero Copper Stock Performance

Ero Copper stock opened at $13.89 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average of $13.30 and a 200-day moving average of $15.91. The stock has a market cap of $1.44 billion, a P/E ratio of 81.71 and a beta of 1.17. Ero Copper has a 52 week low of $11.11 and a 52 week high of $24.34.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. The company had revenue of $122.50 million for the quarter, compared to the consensus estimate of $183.26 million. On average, analysts expect that Ero Copper will post 0.71 EPS for the current fiscal year.

Institutional Trading of Ero Copper

Several large investors have recently added to or reduced their stakes in ERO. Toronto Dominion Bank increased its holdings in shares of Ero Copper by 2,172.6% during the third quarter. Toronto Dominion Bank now owns 57,702 shares of the company’s stock valued at $1,285,000 after purchasing an additional 55,163 shares during the period. Jennison Associates LLC grew its position in Ero Copper by 3.5% in the 4th quarter. Jennison Associates LLC now owns 5,909,627 shares of the company’s stock valued at $79,645,000 after buying an additional 198,800 shares in the last quarter. Canoe Financial LP acquired a new position in Ero Copper during the 4th quarter valued at about $456,000. Montrusco Bolton Investments Inc. raised its position in shares of Ero Copper by 3.9% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company’s stock worth $10,448,000 after buying an additional 28,999 shares in the last quarter. Finally, Sprott Inc. lifted its stake in shares of Ero Copper by 42.2% in the 4th quarter. Sprott Inc. now owns 455,289 shares of the company’s stock worth $6,137,000 after acquiring an additional 135,049 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.