Ero Copper Corp. (NYSE:ERO) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Ero Copper Corp. (NYSE:ERO) have earned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $24.00.

A number of equities analysts have issued reports on ERO shares. TheStreet raised Ero Copper from a “c” rating to a “b-” rating in a research report on Friday, March 8th. BMO Capital Markets raised Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday. Pi Financial raised Ero Copper from a “neutral” rating to a “buy” rating in a research report on Thursday, April 18th. Jefferies Financial Group initiated coverage on Ero Copper in a research report on Friday, May 3rd. They issued a “hold” rating on the stock. Finally, StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, June 21st.

Ero Copper Stock Up 4.1 %

NYSE ERO opened at $21.92 on Thursday. The stock has a market cap of $2.26 billion, a PE ratio of 33.72 and a beta of 1.20. Ero Copper has a fifty-two week low of $11.35 and a fifty-two week high of $24.38. The business has a 50 day moving average price of $21.06 and a two-hundred day moving average price of $18.41. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. The firm had revenue of $105.80 million during the quarter, compared to analysts’ expectations of $104.40 million. Ero Copper had a return on equity of 10.68% and a net margin of 14.23%. As a group, sell-side analysts predict that Ero Copper will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in Ero Copper by 3.7% during the 3rd quarter. FMR LLC now owns 10,719,365 shares of the company’s stock valued at $184,832,000 after purchasing an additional 379,686 shares in the last quarter. Jennison Associates LLC boosted its stake in Ero Copper by 39.0% during the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after purchasing an additional 1,121,095 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Ero Copper by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock valued at $35,715,000 after purchasing an additional 461,998 shares in the last quarter. Impala Asset Management LLC boosted its stake in Ero Copper by 23.1% during the 3rd quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after purchasing an additional 344,410 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its stake in Ero Copper by 31.7% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock valued at $13,435,000 after purchasing an additional 203,613 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

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.