Ero Copper Corp. (NYSE:ERO) Receives $31.50 Average PT from Brokerages

Ero Copper Corp. (NYSE:ERO – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $31.50.

A number of brokerages have issued reports on ERO. Wall Street Zen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $31.00 in a report on Tuesday, April 14th. Finally, National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th.

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Institutional Investors Weigh In On Ero Copper

Several large investors have recently bought and sold shares of the business. FIL Ltd increased its position in Ero Copper by 74.1% in the fourth quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock worth $330,161,000 after purchasing an additional 4,966,427 shares during the last quarter. Invesco Ltd. increased its position in Ero Copper by 10.7% in the fourth quarter. Invesco Ltd. now owns 2,827,385 shares of the company’s stock worth $79,987,000 after purchasing an additional 273,470 shares during the last quarter. Vanguard Group Inc. increased its position in Ero Copper by 77.6% in the fourth quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock worth $72,051,000 after purchasing an additional 1,112,428 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ero Copper by 11.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock worth $50,794,000 after purchasing an additional 250,303 shares during the last quarter. Finally, Cape Ann Asset Management Ltd increased its position in Ero Copper by 13.5% in the first quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock worth $51,983,000 after purchasing an additional 231,485 shares during the last quarter. Institutional investors own 71.30% of the company’s stock.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $29.74 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. Ero Copper has a 1-year low of $12.79 and a 1-year high of $39.80. The company has a market capitalization of $3.10 billion, a P/E ratio of 10.58 and a beta of 1.17. The firm’s 50 day simple moving average is $28.58 and its two-hundred day simple moving average is $28.85.

Ero Copper (NYSE:ERO – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The business had revenue of $263.20 million for the quarter, compared to the consensus estimate of $245.51 million. Research analysts expect that Ero Copper will post 4.1 EPS for the current fiscal year.

Ero Copper Company Profile

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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.

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