Brokerages Set Ero Copper Corp. (NYSE:ERO) Price Target at $30.00

Shares of Ero Copper Corp. (NYSE:ERO) have earned an average recommendation of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $30.00.

A number of equities analysts have weighed in on ERO shares. Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Bank of America assumed coverage on Ero Copper in a report on Tuesday, September 3rd. They set a “buy” rating and a $28.00 target price for the company. Finally, StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds have recently modified their holdings of ERO. FMR LLC increased its stake in Ero Copper by 1.8% during the third quarter. FMR LLC now owns 11,869,851 shares of the company’s stock worth $264,262,000 after acquiring an additional 206,405 shares during the last quarter. Jennison Associates LLC raised its holdings in Ero Copper by 4.3% in the 3rd quarter. Jennison Associates LLC now owns 5,710,827 shares of the company’s stock valued at $127,149,000 after buying an additional 237,345 shares during the period. Impala Asset Management LLC boosted its stake in Ero Copper by 12.7% during the third quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock worth $49,208,000 after buying an additional 248,390 shares during the period. Montrusco Bolton Investments Inc. increased its position in shares of Ero Copper by 17.2% during the third quarter. Montrusco Bolton Investments Inc. now owns 746,357 shares of the company’s stock valued at $16,635,000 after acquiring an additional 109,633 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Ero Copper by 226.9% in the 1st quarter. Boston Partners now owns 726,068 shares of the company’s stock valued at $14,010,000 after acquiring an additional 503,972 shares during the period. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Trading Down 0.3 %

Shares of ERO stock opened at $15.89 on Friday. Ero Copper has a 1-year low of $11.96 and a 1-year high of $24.34. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 93.71 and a beta of 1.23. 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 stock has a 50 day simple moving average of $19.57 and a 200-day simple moving average of $20.31.

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.