Ero Copper Corp. (NYSE:ERO) Receives $32.33 Average Price Target from Brokerages

Shares of Ero Copper Corp. (NYSE:ERO) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $32.3333.

Several equities research analysts have weighed in on the stock. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. TD Securities reissued a “hold” rating on shares of Ero Copper in a report on Friday. Bradesco Corretora raised Ero Copper to an “outperform” rating in a report on Monday, July 20th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Finally, Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $34.00 in a research report on Thursday, July 16th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in shares of Ero Copper during the 4th quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Ero Copper in the fourth quarter valued at approximately $38,000. Kestra Advisory Services LLC bought a new position in Ero Copper in the fourth quarter valued at approximately $56,000. SG Americas Securities LLC bought a new position in Ero Copper in the fourth quarter valued at approximately $115,000. Finally, Banque Cantonale Vaudoise bought a new position in Ero Copper in the third quarter valued at approximately $111,000. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Price Performance

Ero Copper stock opened at $36.60 on Tuesday. The business’s fifty day moving average is $27.52 and its two-hundred day moving average is $28.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The firm has a market cap of $3.82 billion, a P/E ratio of 12.28, a P/E/G ratio of 0.27 and a beta of 1.21. Ero Copper has a 52 week low of $13.37 and a 52 week high of $39.80.

Ero Copper (NYSE:ERO) last announced its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%.The company had revenue of $284.30 million during the quarter, compared to analyst estimates of $277.64 million. Equities research analysts forecast that Ero Copper will post 4.02 earnings per share for the current fiscal year.

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.