Ero Copper Corp. (NYSE:ERO) Receives $24.00 Consensus Price Target from Brokerages

Ero Copper Corp. (NYSE:ERO) has been assigned an average recommendation of “Hold” from the five analysts that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $24.00.

A number of brokerages recently weighed in on ERO. Pi Financial raised Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. TheStreet raised shares of Ero Copper from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Finally, Jefferies Financial Group initiated coverage on shares of Ero Copper in a research note on Friday. They issued a “hold” rating for the company.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently bought and sold shares of ERO. FMR LLC boosted its stake in shares of Ero Copper by 3.7% in the 3rd quarter. FMR LLC now owns 10,719,365 shares of the company’s stock worth $184,832,000 after buying an additional 379,686 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Ero Copper by 39.0% in the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock worth $77,117,000 after purchasing an additional 1,121,095 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ero Copper by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock worth $35,715,000 after buying an additional 461,998 shares during the last quarter. Impala Asset Management LLC grew its position in Ero Copper by 23.1% during the third quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after buying an additional 344,410 shares during the period. Finally, Montrusco Bolton Investments Inc. increased its holdings in Ero Copper by 31.7% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock valued at $13,435,000 after buying an additional 203,613 shares during the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Price Performance

Shares of NYSE ERO opened at $20.81 on Wednesday. The firm has a market capitalization of $2.14 billion, a P/E ratio of 21.23 and a beta of 1.21. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.65. The stock’s 50-day simple moving average is $19.16 and its two-hundred day simple moving average is $16.14. Ero Copper has a twelve month low of $11.35 and a twelve month high of $24.38.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. The company had revenue of $116.41 million during the quarter, compared to the consensus estimate of $104.20 million. During the same quarter last year, the company posted $0.24 earnings per share. As a group, equities analysts anticipate that Ero Copper will post 1.6 EPS for the current fiscal year.

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.