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

Shares of Ero Copper Corp. (NYSE:ERO) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $19.00.

A number of research firms recently issued reports on ERO. National Bankshares reaffirmed a “sector perform” rating on shares of Ero Copper in a report on Tuesday, August 5th. Stifel Nicolaus began coverage on Ero Copper in a report on Wednesday, July 9th. They issued a “buy” rating for the company. Wall Street Zen raised Ero Copper from a “hold” rating to a “buy” rating in a report on Monday. National Bank Financial cut Ero Copper from an “outperform” rating to a “sector perform” rating in a report on Wednesday, July 9th. Finally, Zacks Research raised Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 30th.

Ero Copper Price Performance

Shares of ERO opened at $21.86 on Wednesday. The firm has a market cap of $2.26 billion, a PE ratio of 15.95 and a beta of 1.24. The firm’s 50 day moving average price is $15.91 and its 200 day moving average price is $14.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05. Ero Copper has a twelve month low of $9.30 and a twelve month high of $22.11.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. The business had revenue of $163.50 million for the quarter, compared to the consensus estimate of $263.23 million. As a group, research analysts expect that Ero Copper will post 0.71 EPS for the current fiscal year.

Institutional Trading of Ero Copper

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. J. Safra Sarasin Holding AG grew its position in shares of Ero Copper by 3.2% during the 1st quarter. J. Safra Sarasin Holding AG now owns 24,266 shares of the company’s stock worth $294,000 after buying an additional 753 shares during the period. PenderFund Capital Management Ltd. grew its position in shares of Ero Copper by 0.7% during the 1st quarter. PenderFund Capital Management Ltd. now owns 123,492 shares of the company’s stock worth $1,497,000 after buying an additional 836 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Ero Copper by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock worth $948,000 after buying an additional 1,152 shares during the period. Northwest & Ethical Investments L.P. grew its position in shares of Ero Copper by 22.6% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock worth $97,000 after buying an additional 1,483 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Ero Copper by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock worth $936,000 after buying an additional 1,823 shares during the period. 71.30% of the stock is owned by institutional investors.

Ero Copper Company Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.