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

Shares of Ero Copper Corp. (NYSE:ERO) have received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the firm, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $32.50.

A number of research analysts have commented on ERO shares. Wall Street Zen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. The Goldman Sachs Group upped their target price on shares of Ero Copper from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday. Loop Capital set a $32.00 price target on shares of Ero Copper in a research report on Tuesday, December 30th. Scotiabank raised Ero Copper from a “hold” rating to an “outperform” rating in a report on Thursday, November 6th. Finally, Stifel Canada cut Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st.

Ero Copper Price Performance

Shares of NYSE ERO opened at $29.54 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64. Ero Copper has a fifty-two week low of $9.30 and a fifty-two week high of $31.75. The business has a 50 day moving average price of $25.88 and a two-hundred day moving average price of $20.21. The firm has a market cap of $3.08 billion, a PE ratio of 22.21 and a beta of 1.22.

Ero Copper (NYSE:ERO) last released its earnings results on Tuesday, November 4th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.09). Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. The business had revenue of $177.10 million for the quarter, compared to analysts’ expectations of $309.30 million. Sell-side analysts expect that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds 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 fourth quarter worth $25,000. Brookstone Capital Management bought a new stake in shares of Ero Copper during the 4th quarter valued at about $240,000. J. Safra Sarasin Holding AG raised its stake in Ero Copper by 80.7% during the fourth quarter. J. Safra Sarasin Holding AG now owns 66,336 shares of the company’s stock worth $1,879,000 after acquiring an additional 29,623 shares during the period. Spire Wealth Management lifted its holdings in Ero Copper by 67.2% in the fourth quarter. Spire Wealth Management now owns 48,352 shares of the company’s stock worth $1,370,000 after acquiring an additional 19,440 shares during the last quarter. Finally, Canoe Financial LP lifted its holdings in Ero Copper by 26.8% in the fourth quarter. Canoe Financial LP now owns 64,358 shares of the company’s stock worth $1,821,000 after acquiring an additional 13,596 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Company Profile

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.