Brokerages Set Ero Copper Corp. (NYSE:ERO) Target Price at $24.00

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $24.00.

A number of research firms recently weighed in on ERO. TheStreet raised shares of Ero Copper from a “c” rating to a “b-” rating in a research report on Friday, March 8th. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, June 21st. Jefferies Financial Group started coverage on shares of Ero Copper in a research note on Friday, May 3rd. They issued a “hold” rating for the company. Pi Financial raised shares of Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, BMO Capital Markets raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Wednesday.

Ero Copper Stock Up 4.1 %

Ero Copper stock opened at $21.92 on Thursday. Ero Copper has a 1-year low of $11.35 and a 1-year high of $24.38. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 33.72 and a beta of 1.20. The firm’s fifty day moving average price is $21.06 and its two-hundred day moving average price is $18.41. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. Ero Copper had a net margin of 14.23% and a return on equity of 10.68%. The firm had revenue of $105.80 million for the quarter, compared to analyst estimates of $104.40 million. On average, equities research analysts predict that Ero Copper will post 1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Hedge funds have recently made changes to their positions in the business. FMR LLC boosted its position in Ero Copper by 3.7% during the 3rd quarter. FMR LLC now owns 10,719,365 shares of the company’s stock valued at $184,832,000 after buying an additional 379,686 shares during the period. Jennison Associates LLC boosted its position in Ero Copper by 39.0% during the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after buying an additional 1,121,095 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Ero Copper by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock valued at $35,715,000 after buying an additional 461,998 shares during the period. Impala Asset Management LLC boosted its position in Ero Copper by 23.1% during the 3rd 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. boosted its position in Ero Copper by 31.7% during the 4th 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 period. 71.30% of the stock is currently owned by institutional investors.

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.