Ero Copper Corp. (NYSE:ERO) Receives $19.00 Consensus Price Target from Brokerages

Ero Copper Corp. (NYSE:ERO) has earned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $19.00.

ERO has been the topic of a number of research reports. Wall Street Zen raised Ero Copper from a “hold” rating to a “buy” rating in a report on Monday, October 6th. BMO Capital Markets reissued an “outperform” rating on shares of Ero Copper in a report on Friday, July 4th. Raymond James Financial reissued an “outperform” rating on shares of Ero Copper in a report on Friday. Stifel Nicolaus initiated coverage on Ero Copper in a report on Wednesday, July 9th. They issued a “buy” rating on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ero Copper in a report on Wednesday.

Institutional Trading of Ero Copper

A number of hedge funds have recently modified their holdings of ERO. Acuitas Investments LLC purchased a new stake in shares of Ero Copper in the first quarter worth about $39,000. Northwest & Ethical Investments L.P. boosted its stake in shares of Ero Copper by 22.6% in the first quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock worth $97,000 after buying an additional 1,483 shares during the last quarter. Letko Brosseau & Associates Inc. purchased a new stake in shares of Ero Copper in the first quarter worth about $176,000. Virtu Financial LLC purchased a new stake in shares of Ero Copper in the first quarter worth about $180,000. Finally, XTX Topco Ltd purchased a new stake in shares of Ero Copper in the first quarter worth about $188,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Stock Down 5.3%

NYSE:ERO opened at $21.37 on Wednesday. The company has a market cap of $2.21 billion, a PE ratio of 15.60 and a beta of 1.24. Ero Copper has a twelve month low of $9.30 and a twelve month high of $24.02. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $16.46 and its two-hundred day moving average is $14.69.

Ero Copper (NYSE:ERO) last released its earnings results on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.13. The company had revenue of $163.50 million for the quarter, compared to the consensus estimate of $263.23 million. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. Analysts anticipate that Ero Copper will post 0.71 EPS for the current year.

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.