Brokerages Set Ero Copper Corp. (NYSE:ERO) PT at $30.00

Shares of Ero Copper Corp. (NYSE:ERO) have received a consensus recommendation of “Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $30.00.

Several equities research analysts have recently weighed in on the company. Bank of America started coverage on Ero Copper in a research report on Tuesday, September 3rd. They set a “buy” rating and a $28.00 target price on the stock. BMO Capital Markets upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. StockNews.com cut shares of Ero Copper from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Jefferies Financial Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, Ventum Cap Mkts upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd.

Ero Copper Stock Performance

Shares of ERO stock opened at $22.30 on Friday. Ero Copper has a 52 week low of $11.35 and a 52 week high of $24.34. The firm has a 50 day moving average of $20.18 and a two-hundred day moving average of $20.60. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $2.30 billion, a PE ratio of 34.31 and a beta of 1.19.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $117.10 million during the quarter. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. During the same quarter in the previous year, the business posted $0.24 EPS. On average, research analysts predict that Ero Copper will post 1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jennison Associates LLC boosted its stake in shares of Ero Copper by 39.0% during the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock worth $77,117,000 after acquiring an additional 1,121,095 shares in the last quarter. Boston Partners grew its holdings in Ero Copper by 226.9% in the first quarter. Boston Partners now owns 726,068 shares of the company’s stock valued at $14,010,000 after purchasing an additional 503,972 shares during the last quarter. Scotia Capital Inc. increased its position in shares of Ero Copper by 290.6% in the fourth quarter. Scotia Capital Inc. now owns 292,968 shares of the company’s stock valued at $4,617,000 after buying an additional 217,968 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Ero Copper by 48.7% during the 4th quarter. TD Asset Management Inc now owns 595,283 shares of the company’s stock worth $9,458,000 after buying an additional 194,976 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Ero Copper by 81.4% in the 4th quarter. Franklin Resources Inc. now owns 351,800 shares of the company’s stock worth $5,562,000 after buying an additional 157,900 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.