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

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned a consensus recommendation of “Buy” from the seven research firms that are presently covering the firm, 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 12-month target price among brokerages that have issued a report on the stock in the last year is $30.00.

ERO has been the subject of several recent research reports. Jefferies Financial Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd. StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Finally, Bank of America started coverage on shares of Ero Copper in a report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price objective for the company.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its position in Ero Copper by 64.4% in the 3rd quarter. Barclays PLC now owns 33,987 shares of the company’s stock worth $757,000 after purchasing an additional 13,309 shares during the period. Toronto Dominion Bank grew its position in Ero Copper by 2,172.6% in the 3rd quarter. Toronto Dominion Bank now owns 57,702 shares of the company’s stock worth $1,285,000 after purchasing an additional 55,163 shares during the period. Geode Capital Management LLC grew its position in Ero Copper by 16.1% in the 3rd quarter. Geode Capital Management LLC now owns 46,940 shares of the company’s stock worth $1,050,000 after purchasing an additional 6,521 shares during the period. Impala Asset Management LLC grew its position in Ero Copper by 12.7% in the 3rd quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock worth $49,208,000 after purchasing an additional 248,390 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Ero Copper in the 3rd quarter worth approximately $654,000. Institutional investors own 71.30% of the company’s stock.

Ero Copper Price Performance

ERO stock opened at $15.61 on Friday. The firm has a 50 day moving average price of $19.37 and a 200-day moving average price of $20.24. Ero Copper has a 52-week low of $11.96 and a 52-week high of $24.34. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 91.82 and a beta of 1.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82.

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.