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

Shares of Ero Copper Corp. (NYSE:ERO - Get Free Report) have been given an average recommendation of "Buy" by the seven research firms that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $30.00.

ERO has been the subject of several recent analyst reports. StockNews.com lowered shares of Ero Copper from a "hold" rating to a "sell" rating in a report on Friday, July 19th. Ventum Cap Mkts raised shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Monday, July 22nd. Bank of America assumed coverage on shares of Ero Copper in a report on Tuesday, September 3rd. They set a "buy" rating and a $28.00 target price for the company. BMO Capital Markets raised shares of Ero Copper from a "market perform" rating to an "outperform" rating in a report on Wednesday, June 26th. Finally, Raymond James raised shares of Ero Copper from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 3rd.

Institutional Investors Weigh In On Ero Copper

Hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in Ero Copper in the third quarter valued at about $38,000. Toronto Dominion Bank lifted its position in Ero Copper by 38.7% in the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company's stock valued at $54,000 after buying an additional 709 shares during the last quarter. Chesapeake Capital Corp IL acquired a new position in Ero Copper in the second quarter valued at about $351,000. Platinum Investment Management Ltd. lifted its position in Ero Copper by 15.9% in the first quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company's stock valued at $362,000 after buying an additional 2,564 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ero Copper by 6.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company's stock valued at $469,000 after buying an additional 1,277 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 traded down $0.29 during trading hours on Wednesday, hitting $19.49. The stock had a trading volume of 231,093 shares, compared to its average volume of 330,174. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. The firm has a 50-day moving average price of $20.61 and a 200 day moving average price of $20.72. Ero Copper has a fifty-two week low of $11.35 and a fifty-two week high of $24.34. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 30.43 and a beta of 1.20.

Ero Copper (NYSE:ERO - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $117.10 million during the quarter. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. During the same period in the previous year, the firm posted $0.24 EPS. As a group, research analysts anticipate that Ero Copper will post 1.51 EPS for the current year.

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.