Analysts Set Ero Copper Corp. (NYSE:ERO) Price Target at $26.33

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned an average recommendation of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $26.33.

Several research analysts have commented on the stock. TD Cowen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group initiated coverage on Ero Copper in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, TD Securities upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently added to or reduced their stakes in ERO. Mackenzie Financial Corp grew its position in Ero Copper by 4.2% during the fourth quarter. Mackenzie Financial Corp now owns 47,380 shares of the company’s stock valued at $638,000 after acquiring an additional 1,896 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Ero Copper by 8.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 31,915 shares of the company’s stock worth $430,000 after acquiring an additional 2,550 shares during the last quarter. Temasek Holdings Private Ltd raised its stake in shares of Ero Copper by 9.3% during the fourth quarter. Temasek Holdings Private Ltd now owns 592,821 shares of the company’s stock valued at $7,991,000 after acquiring an additional 50,400 shares during the last quarter. State of Wyoming bought a new stake in shares of Ero Copper in the fourth quarter worth about $76,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ero Copper by 5.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,527,158 shares of the company’s stock worth $47,529,000 after buying an additional 176,637 shares during the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Stock Performance

Shares of ERO opened at $13.39 on Friday. Ero Copper has a 52-week low of $11.11 and a 52-week high of $24.34. The stock’s 50-day simple moving average is $13.28 and its 200 day simple moving average is $15.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 78.74 and a beta of 1.17.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The firm had revenue of $122.50 million during the quarter, compared to analysts’ expectations of $183.26 million. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. Research analysts forecast that Ero Copper will post 0.71 EPS 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.