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

Ero Copper Corp. (NYSE:ERO) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $31.50.

A number of equities analysts have weighed in on ERO shares. The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and decreased their target price for the company from $33.00 to $31.00 in a research note on Tuesday, April 14th. National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. Finally, Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th.

Ero Copper Price Performance

Shares of NYSE ERO opened at $29.39 on Monday. Ero Copper has a fifty-two week low of $12.79 and a fifty-two week high of $39.80. The company has a 50 day simple moving average of $28.44 and a two-hundred day simple moving average of $28.65. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 10.46 and a beta of 1.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30.

Ero Copper (NYSE:ERO) last announced its earnings results on Monday, May 4th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The business had revenue of $263.20 million during the quarter, compared to the consensus estimate of $245.51 million. Analysts expect that Ero Copper will post 3.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Several institutional investors and hedge funds have recently made changes to their positions in the company. Glenmede Trust Co. NA bought a new stake in shares of Ero Copper during the first quarter valued at approximately $411,000. Amundi increased its position in shares of Ero Copper by 7.9% during the first quarter. Amundi now owns 519,497 shares of the company’s stock valued at $13,855,000 after acquiring an additional 37,847 shares in the last quarter. Royal Bank of Canada increased its position in shares of Ero Copper by 123.7% during the first quarter. Royal Bank of Canada now owns 354,638 shares of the company’s stock valued at $9,459,000 after acquiring an additional 196,101 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Ero Copper by 315.9% during the first quarter. The Manufacturers Life Insurance Company now owns 722,853 shares of the company’s stock valued at $19,241,000 after acquiring an additional 549,038 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new stake in shares of Ero Copper during the first quarter valued at approximately $514,000. Institutional investors own 71.30% of the company’s stock.

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.