Ero Copper Corp. (NYSE:ERO) Receives $26.33 Average PT from Brokerages

Ero Copper Corp. (NYSE:ERO) has been assigned a consensus rating of “Buy” from the ten brokerages that are covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $26.33.

ERO has been the subject of a number of analyst reports. TD Securities upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group began coverage on Ero Copper in a research note on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective for the company. Finally, TD Cowen raised Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERO. FMR LLC grew its stake in shares of 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 grew its position in Ero Copper by 3.5% during the 4th quarter. Jennison Associates LLC now owns 5,909,627 shares of the company’s stock worth $79,645,000 after purchasing an additional 198,800 shares during the last quarter. Invesco Ltd. increased its stake in Ero Copper by 22.6% during the 4th quarter. Invesco Ltd. now owns 3,890,977 shares of the company’s stock valued at $52,450,000 after purchasing an additional 715,999 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ero Copper by 5.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,527,158 shares of the company’s stock worth $47,529,000 after buying an additional 176,637 shares during the last quarter. Finally, 683 Capital Management LLC raised its holdings in shares of Ero Copper by 20.4% in the fourth quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company’s stock worth $33,272,000 after buying an additional 418,367 shares during the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Stock Down 6.6 %

Shares of Ero Copper stock opened at $12.00 on Tuesday. Ero Copper has a 1 year low of $11.94 and a 1 year high of $24.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 70.56 and a beta of 1.14. The firm’s 50-day moving average is $13.68 and its two-hundred day moving average is $16.86.

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.