Ero Copper Corp. (NYSE:ERO) Receives $30.00 Average PT from Analysts

Ero Copper Corp. (NYSE:ERO) has been given an average rating of “Buy” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $30.00.

ERO has been the subject of a number of recent research reports. Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 22nd. Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd. Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Bank of America initiated coverage on Ero Copper in a report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price target for the company.

Institutional Investors Weigh In On Ero Copper

Several hedge funds have recently modified their holdings of ERO. Toronto Dominion Bank raised its stake in Ero Copper by 38.7% during the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after purchasing an additional 709 shares during the period. National Bank of Canada FI increased its holdings in shares of Ero Copper by 1.4% during the 2nd quarter. National Bank of Canada FI now owns 58,271 shares of the company’s stock worth $1,238,000 after buying an additional 793 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ero Copper by 6.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock worth $469,000 after buying an additional 1,277 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Ero Copper in the 3rd quarter worth $38,000. Finally, Platinum Investment Management Ltd. boosted its holdings in Ero Copper by 15.9% in the first quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock valued at $362,000 after acquiring an additional 2,564 shares during the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Stock Down 0.6 %

ERO stock opened at $19.39 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60. The company’s 50 day simple moving average is $20.60 and its 200-day simple moving average is $20.68. Ero Copper has a 12 month low of $11.35 and a 12 month high of $24.34. The firm has a market capitalization of $2.00 billion, a PE ratio of -102.05 and a beta of 1.20.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, August 1st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. The firm had revenue of $117.10 million for the quarter. During the same quarter last year, the company posted $0.24 EPS. Equities analysts expect that Ero Copper will post 1.16 earnings per share for the current fiscal 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.