Ero Copper Corp. (NYSE:ERO) Given Average Rating of “Moderate Buy” by Brokerages

Ero Copper Corp. (NYSE:ERO) has been given a consensus recommendation of “Moderate Buy” by the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $32.50.

Several equities research analysts have recently weighed in on ERO shares. The Goldman Sachs Group upped their target price on shares of Ero Copper from $25.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Loop Capital set a $32.00 price target on shares of Ero Copper in a report on Tuesday, December 30th. Zacks Research lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. ATB Cormark Capital Markets raised shares of Ero Copper to a “moderate buy” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ero Copper in a report on Monday, December 29th.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently bought and sold shares of ERO. Kapitalo Investimentos Ltda increased its stake in shares of Ero Copper by 86.0% in the third quarter. Kapitalo Investimentos Ltda now owns 1,076,696 shares of the company’s stock valued at $21,782,000 after buying an additional 497,978 shares in the last quarter. Citigroup Inc. lifted its position in Ero Copper by 2,198.1% during the 3rd quarter. Citigroup Inc. now owns 88,729 shares of the company’s stock worth $1,798,000 after buying an additional 84,868 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in Ero Copper by 21.5% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,354,239 shares of the company’s stock worth $22,819,000 after acquiring an additional 239,935 shares during the last quarter. Impala Asset Management LLC grew its holdings in Ero Copper by 3.0% during the 2nd quarter. Impala Asset Management LLC now owns 1,699,100 shares of the company’s stock worth $28,494,000 after acquiring an additional 49,199 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in Ero Copper in the 3rd quarter valued at about $12,599,000. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Price Performance

Ero Copper stock opened at $26.60 on Wednesday. The business has a 50 day simple moving average of $30.09 and a 200 day simple moving average of $25.91. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46. The company has a market capitalization of $2.77 billion, a PE ratio of 10.47 and a beta of 1.17. Ero Copper has a one year low of $9.30 and a one year high of $39.80.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Thursday, March 5th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.02). The company had revenue of $320.20 million for the quarter, compared to analyst estimates of $430.46 million. Ero Copper had a return on equity of 27.09% and a net margin of 33.56%. On average, sell-side analysts forecast that Ero Copper will post 0.71 EPS for the current fiscal year.

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.