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

Ero Copper Corp. (NYSE:ERO) has received an average recommendation of “Hold” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $25.00.

Several analysts recently issued reports on ERO shares. The Goldman Sachs Group upped their target price on Ero Copper from $18.50 to $25.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus started coverage on Ero Copper in a report on Wednesday, July 9th. They set a “buy” rating on the stock. Zacks Research lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Wednesday. National Bank Financial lowered Ero Copper from an “outperform” rating to a “sector perform” rating in a report on Wednesday, July 9th. Finally, Stifel Canada lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st.

Hedge Funds Weigh In On Ero Copper

A number of large investors have recently made changes to their positions in ERO. Northwest & Ethical Investments L.P. boosted its holdings in shares of Ero Copper by 22.6% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock valued at $97,000 after purchasing an additional 1,483 shares in the last quarter. Letko Brosseau & Associates Inc. acquired a new stake in shares of Ero Copper during the 1st quarter valued at $176,000. Virtu Financial LLC acquired a new stake in shares of Ero Copper during the 1st quarter valued at $180,000. XTX Topco Ltd acquired a new stake in shares of Ero Copper during the 1st quarter valued at $188,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ero Copper during the 1st quarter valued at $217,000. Institutional investors own 71.30% of the company’s stock.

Ero Copper Trading Down 0.6%

NYSE ERO opened at $21.37 on Friday. The stock has a 50-day simple moving average of $18.84 and a 200 day simple moving average of $15.85. The company has a market capitalization of $2.21 billion, a PE ratio of 15.60 and a beta of 1.24. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. Ero Copper has a 12 month low of $9.30 and a 12 month high of $24.48.

Ero Copper (NYSE:ERO) last posted its earnings results on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%.The firm had revenue of $163.50 million during the quarter, compared to analysts’ expectations of $263.23 million. Research analysts forecast that Ero Copper will post 0.71 EPS for the current year.

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.