Analysts Set Ero Copper Corp. (NYSE:ERO) Price Target at $32.00

Ero Copper Corp. (NYSE:ERO) has received an average recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $30.00.

A number of analysts have recently weighed in on ERO shares. Scotiabank raised Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 30th. Ventum Cap Mkts raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 22nd. Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 3rd. StockNews.com cut Ero Copper from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Finally, BMO Capital Markets raised Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th.

Ero Copper Trading Up 2.4 %

ERO opened at $18.72 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.93 billion, a P/E ratio of 28.80 and a beta of 1.19. The stock’s fifty day moving average is $20.20 and its two-hundred day moving average is $20.15. Ero Copper has a 52 week low of $11.35 and a 52 week high of $24.34.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $117.10 million for the quarter. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. During the same period last year, the business posted $0.24 EPS. Analysts forecast that Ero Copper will post 1.83 earnings per share for the current year.

Institutional Trading of Ero Copper

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its position in Ero Copper by 38.7% during the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after acquiring an additional 709 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Ero Copper during the 4th quarter valued at about $79,000. Platinum Investment Management Ltd. purchased a new position in shares of Ero Copper during the 4th quarter valued at about $257,000. Chesapeake Capital Corp IL purchased a new position in shares of Ero Copper during the 2nd quarter valued at about $351,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ero Copper by 6.2% during the 2nd 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. 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.