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

Ero Copper Corp. (NYSE:ERO) has been given a consensus recommendation of “Buy” by the ten ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $26.33.

Several analysts recently commented on the company. TD Cowen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Raymond James reissued an “outperform” rating on shares of Ero Copper in a report on Friday, April 4th. TD Securities upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Desjardins began coverage on shares of Ero Copper in a research report on Friday, April 4th. They issued a “hold” rating for the company. Finally, BMO Capital Markets initiated coverage on shares of Ero Copper in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock.

Institutional Investors Weigh In On Ero Copper

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp grew its stake in shares of Ero Copper by 4.2% in the 4th quarter. Mackenzie Financial Corp now owns 47,380 shares of the company’s stock worth $638,000 after purchasing an additional 1,896 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Ero Copper by 8.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 31,915 shares of the company’s stock worth $430,000 after buying an additional 2,550 shares in the last quarter. Temasek Holdings Private Ltd grew its position in Ero Copper by 9.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 592,821 shares of the company’s stock worth $7,991,000 after buying an additional 50,400 shares during the last quarter. State of Wyoming bought a new position in shares of Ero Copper in the fourth quarter valued at $76,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ero Copper by 5.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,527,158 shares of the company’s stock valued at $47,529,000 after acquiring an additional 176,637 shares during the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Price Performance

Shares of NYSE ERO opened at $10.93 on Wednesday. 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 firm has a market capitalization of $1.13 billion, a PE ratio of 64.26 and a beta of 1.10. Ero Copper has a 1-year low of $9.30 and a 1-year high of $24.34. The business’s fifty day moving average price is $12.24 and its two-hundred day moving average price is $14.50.

Ero Copper (NYSE:ERO) last posted its earnings results on Thursday, March 6th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). The firm had revenue of $122.50 million during the quarter, compared to the consensus estimate of $183.26 million. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. On average, research analysts expect 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.