Ero Copper Corp. (NYSE:ERO) Receives $26.33 Consensus PT from Analysts

Ero Copper Corp. (NYSE:ERO) has been given a consensus rating of “Buy” by the ten analysts that are covering the firm, MarketBeat reports. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $26.33.

A number of brokerages recently commented on ERO. The Goldman Sachs Group began coverage on shares of Ero Copper in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price objective for the company. TD Cowen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Finally, TD Securities raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Ero Copper by 1.8% in the third quarter. FMR LLC now owns 11,869,851 shares of the company’s stock valued at $264,262,000 after buying an additional 206,405 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Ero Copper by 3.5% during the fourth quarter. Jennison Associates LLC now owns 5,909,627 shares of the company’s stock valued at $79,645,000 after purchasing an additional 198,800 shares during the period. Invesco Ltd. lifted its position in shares of Ero Copper by 22.6% during the fourth quarter. Invesco Ltd. now owns 3,890,977 shares of the company’s stock worth $52,450,000 after purchasing an additional 715,999 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 valued at $47,529,000 after purchasing an additional 176,637 shares during the period. Finally, 683 Capital Management LLC grew its holdings in Ero Copper by 20.4% during the 4th quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company’s stock valued at $33,272,000 after purchasing an additional 418,367 shares in the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Stock Performance

Shares of ERO stock opened at $13.89 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. Ero Copper has a 12 month low of $11.11 and a 12 month high of $24.34. The company has a market cap of $1.44 billion, a P/E ratio of 81.71 and a beta of 1.17. The firm has a fifty day moving average price of $13.30 and a 200 day moving average price of $15.91.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. The firm had revenue of $122.50 million for the quarter, compared to analyst estimates of $183.26 million. Sell-side analysts predict that Ero Copper will post 0.71 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.