Ero Copper Corp. (NYSE:ERO) Receives $26.33 Consensus Target Price from Analysts

Ero Copper Corp. (NYSE:ERO - Get Free Report) has been assigned an average recommendation of "Buy" from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $26.33.

Several equities research analysts recently issued reports on the stock. TD Securities upgraded shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. TD Cowen raised shares of Ero Copper from a "hold" rating to a "buy" rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group began coverage on shares of Ero Copper in a research report on Monday, December 2nd. They set a "buy" rating and a $19.00 price target for the company.

Ero Copper Stock Up 0.9 %

Shares of Ero Copper stock traded up $0.12 during trading on Friday, reaching $13.99. 362,590 shares of the company traded hands, compared to its average volume of 383,262. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. Ero Copper has a 1-year low of $11.11 and a 1-year high of $24.34. The firm has a market capitalization of $1.45 billion, a PE ratio of 82.29 and a beta of 1.17. The company has a 50 day moving average price of $13.30 and a 200-day moving average price of $15.91.

Remove Ads

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The business had revenue of $122.50 million during the quarter, compared to analysts' expectations of $183.26 million. As a group, equities research analysts expect that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp boosted its position in shares of Ero Copper by 4.2% in the 4th quarter. Mackenzie Financial Corp now owns 47,380 shares of the company's stock valued at $638,000 after purchasing an additional 1,896 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Ero Copper by 8.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 31,915 shares of the company's stock valued at $430,000 after acquiring an additional 2,550 shares during the period. Temasek Holdings Private Ltd lifted its position in shares of Ero Copper by 9.3% in the 4th quarter. Temasek Holdings Private Ltd now owns 592,821 shares of the company's stock worth $7,991,000 after acquiring an additional 50,400 shares during the period. State of Wyoming acquired a new stake in shares of Ero Copper during the 4th quarter valued at about $76,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 valued at $47,529,000 after purchasing an additional 176,637 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.