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

Ero Copper Corp. (NYSE:ERO) has been given a consensus rating of “Moderate Buy” by the sixteen analysts that are currently covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $31.50.

ERO has been the subject of a number of recent analyst reports. The Goldman Sachs Group downgraded Ero Copper from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Wall Street Zen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a research report on Monday.

Institutional Trading of Ero Copper

Several institutional investors have recently added to or reduced their stakes in ERO. FNY Investment Advisers LLC purchased a new stake in shares of Ero Copper during the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ero Copper in the fourth quarter valued at $38,000. Kestra Advisory Services LLC purchased a new position in Ero Copper in the fourth quarter valued at $56,000. Banque Cantonale Vaudoise purchased a new position in Ero Copper in the third quarter valued at $111,000. Finally, SG Americas Securities LLC acquired a new position in Ero Copper during the 4th quarter worth $115,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Price Performance

ERO stock opened at $25.05 on Friday. The business has a fifty day moving average of $27.88 and a two-hundred day moving average of $28.96. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 8.91 and a beta of 1.20. Ero Copper has a 52-week low of $12.79 and a 52-week high of $39.80.

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