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

Ero Copper Corp. (NYSE:ERO) has earned an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $32.50.

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ero Copper in a report on Monday, December 29th. Zacks Research upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Ventum Cap Mkts raised shares of Ero Copper to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Loop Capital set a $32.00 price objective on shares of Ero Copper in a report on Tuesday, December 30th.

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. Brookstone Capital Management purchased a new position in Ero Copper during the 4th quarter worth $240,000. J. Safra Sarasin Holding AG grew its holdings in shares of Ero Copper by 80.7% during the fourth quarter. J. Safra Sarasin Holding AG now owns 66,336 shares of the company’s stock worth $1,879,000 after buying an additional 29,623 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Ero Copper by 67.2% during the fourth quarter. Spire Wealth Management now owns 48,352 shares of the company’s stock worth $1,370,000 after buying an additional 19,440 shares during the last quarter. Canoe Financial LP increased its position in Ero Copper by 26.8% in the 4th quarter. Canoe Financial LP now owns 64,358 shares of the company’s stock valued at $1,821,000 after acquiring an additional 13,596 shares during the period. Finally, Synergy Asset Management LLC purchased a new stake in Ero Copper during the 4th quarter valued at approximately $305,000. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Stock Down 2.1%

Ero Copper stock opened at $29.95 on Friday. The firm has a market capitalization of $3.11 billion, a P/E ratio of 22.52 and a beta of 1.22. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. Ero Copper has a twelve month low of $9.30 and a twelve month high of $31.75. The stock’s fifty day simple moving average is $25.72 and its 200-day simple moving average is $20.08.

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 analysts’ consensus estimates of $0.36 by ($0.09). Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. The company had revenue of $177.10 million during the quarter, compared to analysts’ expectations of $309.30 million. As a group, equities analysts expect that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Ero Copper Company Profile

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.