Brokerages Set Ero Copper Corp. (NYSE:ERO) PT at $26.33

Shares of Ero Copper Corp. (NYSE:ERO) have earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $26.33.

Several analysts have recently commented on ERO shares. StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. The Goldman Sachs Group initiated coverage on shares of Ero Copper in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price objective for the company.

Ero Copper Price Performance

Shares of NYSE ERO opened at $14.40 on Monday. The stock has a fifty day moving average price of $14.84 and a 200 day moving average price of $18.43. Ero Copper has a 1-year low of $12.78 and a 1-year high of $24.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. The company has a market cap of $1.49 billion, a PE ratio of 84.71 and a beta of 1.15.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERO. Tidal Investments LLC grew its holdings in shares of Ero Copper by 142.5% in the 3rd quarter. Tidal Investments LLC now owns 51,557 shares of the company’s stock worth $1,149,000 after acquiring an additional 30,299 shares during the period. Barclays PLC grew its holdings in Ero Copper by 64.4% in the third quarter. Barclays PLC now owns 33,987 shares of the company’s stock valued at $757,000 after purchasing an additional 13,309 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Ero Copper by 2,172.6% in the third quarter. Toronto Dominion Bank now owns 57,702 shares of the company’s stock valued at $1,285,000 after buying an additional 55,163 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ero Copper by 16.1% during the 3rd quarter. Geode Capital Management LLC now owns 46,940 shares of the company’s stock worth $1,050,000 after buying an additional 6,521 shares during the last quarter. Finally, Impala Asset Management LLC boosted its position in shares of 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 buying an additional 248,390 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.