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

Ero Copper Corp. (NYSE:ERO) has been given a consensus rating of “Hold” by the eighteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Twelve analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $25.00.

A number of research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Ero Copper from $18.50 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. CIBC reissued a “neutral” rating on shares of Ero Copper in a research note on Friday, December 5th. Scotiabank upgraded shares of Ero Copper from a “hold” rating to an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a research note on Monday, December 8th. Finally, Stifel Canada lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st.

Ero Copper Trading Up 2.6%

NYSE:ERO opened at $26.19 on Monday. The firm has a market capitalization of $2.72 billion, a P/E ratio of 19.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46. Ero Copper has a one year low of $9.30 and a one year high of $26.87. The company’s 50-day simple moving average is $22.94 and its 200 day simple moving average is $18.40.

Ero Copper (NYSE:ERO) last released its earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.09). Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. The business had revenue of $177.10 million for the quarter, compared to analysts’ expectations of $309.30 million. As a group, analysts forecast that Ero Copper will post 0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently added to or reduced their stakes in ERO. Banque Cantonale Vaudoise bought a new position in Ero Copper in the third quarter valued at about $111,000. Shay Capital LLC bought a new stake in shares of Ero Copper during the 3rd quarter valued at about $202,000. Versor Investments LP purchased a new stake in shares of Ero Copper during the 3rd quarter valued at about $217,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Ero Copper in the 1st quarter worth approximately $217,000. Finally, Jain Global LLC purchased a new position in shares of Ero Copper in the third quarter worth approximately $239,000. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

About Ero Copper

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.