Ero Copper (NYSE:ERO) Price Target Increased to $32.00 by Analysts at Jefferies Financial Group

Ero Copper (NYSE:ERO) had its target price upped by research analysts at Jefferies Financial Group from $29.00 to $32.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 40.04% from the stock’s current price.

A number of other analysts have also recently weighed in on ERO. Ventum Cap Mkts cut Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Scotiabank raised Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 30th. BMO Capital Markets raised Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Pi Financial raised Ero Copper from a “neutral” rating to a “buy” rating in a research report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Ero Copper Stock Up 4.1 %

Shares of NYSE:ERO traded up $0.90 on Friday, reaching $22.85. The company had a trading volume of 80,901 shares, compared to its average volume of 346,651. Ero Copper has a twelve month low of $11.35 and a twelve month high of $24.38. The stock has a 50-day moving average price of $21.51 and a 200 day moving average price of $18.86. The stock has a market capitalization of $2.36 billion, a P/E ratio of 35.15 and a beta of 1.19. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. Ero Copper had a return on equity of 10.68% and a net margin of 14.23%. The company had revenue of $105.80 million during the quarter, compared to analysts’ expectations of $104.40 million. On average, equities analysts expect that Ero Copper will post 1.7 EPS for the current year.

Hedge Funds Weigh In On Ero Copper

Several large investors have recently added to or reduced their stakes in the company. Acuitas Investments LLC raised its holdings in Ero Copper by 61.5% in the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock valued at $33,000 after acquiring an additional 800 shares in the last quarter. Raymond James & Associates raised its holdings in Ero Copper by 2.7% in the 4th quarter. Raymond James & Associates now owns 50,551 shares of the company’s stock valued at $798,000 after acquiring an additional 1,346 shares in the last quarter. Platinum Investment Management Ltd. raised its holdings in Ero Copper by 15.9% in the 1st quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock valued at $362,000 after acquiring an additional 2,564 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Ero Copper by 3.2% in the 4th quarter. CIBC Asset Management Inc now owns 90,121 shares of the company’s stock valued at $1,429,000 after acquiring an additional 2,772 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ero Copper by 21.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,656 shares of the company’s stock valued at $328,000 after acquiring an additional 3,632 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.