Ero Copper (NYSE:ERO) Coverage Initiated at The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group began coverage on shares of Ero Copper (NYSE:ERO) in a research note issued on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $19.00 price target on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 24.35% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Raymond James raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd. Jefferies Financial Group raised Ero Copper from a “hold” rating to a “buy” rating in a report 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 on the stock. Finally, StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $26.33.

Ero Copper Price Performance

Shares of ERO opened at $15.28 on Monday. Ero Copper has a twelve month low of $12.59 and a twelve month high of $24.34. The company has a 50 day moving average of $18.55 and a two-hundred day moving average of $19.89. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 89.88 and a beta of 1.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goehring & Rozencwajg Associates LLC grew its stake in Ero Copper by 22.5% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock worth $7,266,000 after purchasing an additional 62,500 shares in the last quarter. Old West Investment Management LLC raised its holdings in shares of Ero Copper by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 160,000 shares of the company’s stock valued at $3,563,000 after purchasing an additional 80,000 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Ero Copper during the second quarter worth $2,521,000. Intact Investment Management Inc. purchased a new position in Ero Copper in the third quarter valued at $670,000. Finally, Mirabella Financial Services LLP lifted its holdings in Ero Copper by 608.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 143,252 shares of the company’s stock worth $3,189,000 after buying an additional 123,023 shares during the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

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.