The Goldman Sachs Group Initiates Coverage on Ero Copper (NYSE:ERO)

Investment analysts at The Goldman Sachs Group assumed coverage on shares of Ero Copper (NYSE:ERO) in a research note issued to investors on Monday,Benzinga reports. The firm set a “buy” rating and a $19.00 price target on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 24.84% from the stock’s previous close.

A number of other research firms also recently commented on ERO. Bank of America started coverage on Ero Copper in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price target for the company. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.33.

Ero Copper Price Performance

Shares of NYSE ERO opened at $15.22 on Monday. The business has a fifty day moving average price of $18.82 and a two-hundred day moving average price of $19.99. The stock has a market capitalization of $1.57 billion, a PE ratio of 89.53 and a beta of 1.23. 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 fifty-two week low of $11.96 and a fifty-two week high of $24.34.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC raised its holdings in Ero Copper by 1.8% during the 3rd quarter. FMR LLC now owns 11,869,851 shares of the company’s stock worth $264,262,000 after purchasing an additional 206,405 shares during the last quarter. Jennison Associates LLC increased its position in shares of Ero Copper by 4.3% during the third quarter. Jennison Associates LLC now owns 5,710,827 shares of the company’s stock worth $127,149,000 after buying an additional 237,345 shares during the period. Impala Asset Management LLC raised its stake in Ero Copper by 12.7% during the third quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock worth $49,208,000 after buying an additional 248,390 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in Ero Copper by 17.2% in the third quarter. Montrusco Bolton Investments Inc. now owns 746,357 shares of the company’s stock valued at $16,635,000 after buying an additional 109,633 shares during the period. Finally, Temasek Holdings Private Ltd boosted its position in Ero Copper by 41.2% during the third quarter. Temasek Holdings Private Ltd now owns 542,421 shares of the company’s stock valued at $12,080,000 after acquiring an additional 158,294 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors.

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.