Ero Copper Corp. (NYSE:ERO) Receives $24.00 Consensus PT from Brokerages

Shares of Ero Copper Corp. (NYSE:ERO) have received an average recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $24.00.

ERO has been the subject of several recent research reports. Pi Financial raised Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. Jefferies Financial Group began coverage on shares of Ero Copper in a research note on Friday. They issued a “hold” rating for the company. Finally, TheStreet upgraded shares of Ero Copper from a “c” rating to a “b-” rating in a research note on Friday, March 8th.

Ero Copper Price Performance

ERO opened at $20.81 on Wednesday. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.38. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $2.14 billion, a P/E ratio of 21.23 and a beta of 1.21. The stock has a fifty day moving average of $19.16 and a 200-day moving average of $16.14.

Ero Copper (NYSE:ERO) last issued its earnings results on Thursday, March 7th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $116.41 million during the quarter, compared to analyst estimates of $104.20 million. Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. During the same quarter in the prior year, the company earned $0.24 EPS. Equities analysts forecast that Ero Copper will post 1.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of institutional investors have recently bought and sold shares of ERO. Mackenzie Financial Corp boosted its holdings in Ero Copper by 9.5% during the third quarter. Mackenzie Financial Corp now owns 40,093 shares of the company’s stock valued at $691,000 after purchasing an additional 3,468 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ero Copper by 6.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,785,920 shares of the company’s stock worth $30,937,000 after purchasing an additional 104,436 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Ero Copper by 10.3% in the third quarter. CIBC Asset Management Inc now owns 87,349 shares of the company’s stock worth $1,511,000 after acquiring an additional 8,165 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Ero Copper by 4.9% in the third quarter. Jennison Associates LLC now owns 3,544,861 shares of the company’s stock valued at $61,161,000 after buying an additional 165,982 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Ero Copper in the 3rd quarter worth $131,000. 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.