Brokerages Set Ero Copper Corp. (NYSE:ERO) PT at $23.50

Key Points

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Ero Copper Corp. (NYSE:ERO - Get Free Report) has received an average rating of "Moderate Buy" from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $23.50.

Several equities research analysts have recently commented on ERO shares. Wall Street Zen cut Ero Copper from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. National Bankshares reissued a "sector perform" rating on shares of Ero Copper in a research note on Tuesday, August 5th. National Bank Financial cut Ero Copper from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 9th. Stifel Nicolaus started coverage on Ero Copper in a research note on Wednesday, July 9th. They issued a "buy" rating for the company. Finally, TD Securities reaffirmed a "buy" rating on shares of Ero Copper in a research note on Wednesday, May 7th.

Institutional Investors Weigh In On Ero Copper

A number of institutional investors have recently made changes to their positions in the stock. GMT Capital Corp grew its stake in shares of Ero Copper by 7.7% during the second quarter. GMT Capital Corp now owns 7,467,055 shares of the company's stock worth $125,865,000 after purchasing an additional 536,030 shares during the period. Jennison Associates LLC grew its stake in shares of Ero Copper by 5.0% during the second quarter. Jennison Associates LLC now owns 5,487,290 shares of the company's stock worth $92,651,000 after purchasing an additional 259,830 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ero Copper by 2.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,607,517 shares of the company's stock worth $43,689,000 after purchasing an additional 80,359 shares during the period. 683 Capital Management LLC grew its stake in shares of Ero Copper by 20.4% during the fourth quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company's stock worth $33,272,000 after purchasing an additional 418,367 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Ero Copper by 82.6% during the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company's stock worth $29,919,000 after purchasing an additional 803,320 shares during the period. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Trading Up 2.7%

Shares of NYSE ERO traded up $0.3750 during midday trading on Tuesday, hitting $14.3850. The stock had a trading volume of 403,688 shares, compared to its average volume of 621,612. The company's 50-day simple moving average is $14.81 and its 200 day simple moving average is $13.59. The firm has a market cap of $1.49 billion, a P/E ratio of 10.50 and a beta of 1.16. Ero Copper has a fifty-two week low of $9.30 and a fifty-two week high of $23.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80.

Ero Copper (NYSE:ERO - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.33 by $0.13. The company had revenue of $163.50 million during the quarter, compared to analysts' expectations of $263.23 million. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%. Research analysts anticipate that Ero Copper will post 0.71 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.