Brokerages Set Ero Copper Corp. (NYSE:ERO) Target Price at $26.33

Ero Copper Corp. (NYSE:ERO) has been assigned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $26.33.

A number of research firms recently commented on ERO. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. The Goldman Sachs Group started coverage on Ero Copper in a report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price target on the stock.

Ero Copper Stock Down 2.9 %

ERO opened at $13.18 on Friday. The business has a 50 day simple moving average of $13.97 and a 200-day simple moving average of $17.46. Ero Copper has a 12 month low of $12.78 and a 12 month high of $24.34. The stock has a market capitalization of $1.37 billion, a P/E ratio of 77.55 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45.

Ero Copper (NYSE:ERO) last issued its earnings results on Tuesday, November 5th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The company had revenue of $124.80 million for the quarter, compared to analyst estimates of $148.80 million. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. During the same period in the previous year, the firm earned $0.18 EPS. On average, equities analysts anticipate that Ero Copper will post 0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Toronto Dominion Bank grew its holdings in Ero Copper by 2,172.6% during the 3rd quarter. Toronto Dominion Bank now owns 57,702 shares of the company’s stock valued at $1,285,000 after buying an additional 55,163 shares during the last quarter. Old West Investment Management LLC boosted its stake in shares of Ero Copper by 100.0% during the third quarter. Old West Investment Management LLC now owns 160,000 shares of the company’s stock valued at $3,563,000 after acquiring an additional 80,000 shares during the last quarter. Canoe Financial LP purchased a new stake in Ero Copper during the 4th quarter worth about $456,000. Montrusco Bolton Investments Inc. increased its position in 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 purchasing an additional 28,999 shares in the last quarter. Finally, Impala Asset Management LLC raised its stake in Ero Copper by 12.7% in the 3rd quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock valued at $49,208,000 after purchasing an additional 248,390 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Company Profile

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.