Brokerages Set Ero Copper Corp. (NYSE:ERO) Price Target at $32.50

Ero Copper Corp. (NYSE:ERO) has earned an average rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $32.50.

Several research analysts have recently weighed in on ERO shares. Canaccord Genuity Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, January 14th. Loop Capital set a $32.00 price target on shares of Ero Copper in a research note on Tuesday, December 30th. Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Ero Copper in a research note on Friday, December 5th. Finally, Bank of America lowered Ero Copper from a “buy” rating to a “neutral” rating in a research report on Monday.

Institutional Trading of Ero Copper

A number of institutional investors have recently modified their holdings of ERO. FNY Investment Advisers LLC purchased a new position in Ero Copper in the fourth quarter valued at approximately $25,000. Banque Cantonale Vaudoise acquired a new stake in shares of Ero Copper in the third quarter worth $111,000. SG Americas Securities LLC purchased a new position in shares of Ero Copper in the 4th quarter valued at $115,000. Shay Capital LLC purchased a new position in shares of Ero Copper in the 3rd quarter valued at $202,000. Finally, Versor Investments LP acquired a new position in shares of Ero Copper during the 3rd quarter valued at $217,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Stock Performance

Ero Copper stock opened at $30.03 on Tuesday. The stock has a fifty day moving average price of $29.59 and a 200 day moving average price of $22.50. Ero Copper has a 52 week low of $9.30 and a 52 week high of $39.80. The firm has a market capitalization of $3.13 billion, a P/E ratio of 22.58 and a beta of 1.20. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64.

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.