Brokerages Set Ero Copper Corp. (NYSE:ERO) Price Target at $32.33

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.3333.

Several analysts have recently commented on ERO shares. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. National Bank Financial raised Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Finally, Wall Street Zen lowered Ero Copper from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th.

Hedge Funds Weigh In On Ero Copper

Several large investors have recently made changes to their positions in the company. TD Waterhouse Canada Inc. lifted its holdings in Ero Copper by 2.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company’s stock worth $503,000 after acquiring an additional 380 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Ero Copper by 3.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company’s stock worth $513,000 after acquiring an additional 574 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Ero Copper during the fourth quarter worth about $25,000. Public Employees Retirement System of Ohio raised its position in shares of Ero Copper by 3.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company’s stock worth $933,000 after purchasing an additional 1,107 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ero Copper during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Stock Up 2.3%

Shares of NYSE ERO opened at $31.14 on Tuesday. Ero Copper has a 12-month low of $13.37 and a 12-month high of $39.80. The firm’s 50-day simple moving average is $27.34 and its 200 day simple moving average is $28.63. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 0.24 and a beta of 1.21.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. The firm had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. On average, research analysts expect that Ero Copper will post 4.02 earnings per share for the current fiscal year.

Ero Copper Company Profile

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.