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

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned a consensus recommendation of “Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $30.00.

ERO has been the topic of several research analyst reports. Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday. Bank of America started coverage on shares of Ero Copper in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 target price on the stock. Ventum Cap Mkts upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd. Finally, Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC boosted its holdings in shares of Ero Copper by 39.0% during the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after acquiring an additional 1,121,095 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Ero Copper by 4.1% during the first quarter. Russell Investments Group Ltd. now owns 783,756 shares of the company’s stock valued at $15,111,000 after acquiring an additional 30,665 shares during the period. Boston Partners boosted its holdings in shares of Ero Copper by 226.9% during the first 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. Dimensional Fund Advisors LP boosted its holdings in shares of Ero Copper by 32.9% during the second quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock valued at $9,922,000 after acquiring an additional 115,002 shares during the period. Finally, Goehring & Rozencwajg Associates LLC raised its stake in shares of Ero Copper by 22.5% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock valued at $7,266,000 after purchasing an additional 62,500 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Price Performance

Shares of NYSE ERO opened at $19.40 on Wednesday. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 29.85 and a beta of 1.20. Ero Copper has a 52 week low of $11.35 and a 52 week high of $24.34. The company’s 50-day moving average price is $20.60 and its 200 day moving average price is $20.69. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. The company had revenue of $117.10 million for the quarter. During the same period in the prior year, the business earned $0.24 earnings per share. As a group, research analysts forecast that Ero Copper will post 1.51 earnings per share for the current fiscal year.

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.