Ero Copper Corp. (NYSE:ERO) Receives Consensus Recommendation of “Hold” from Brokerages

Ero Copper Corp. (NYSE:ERO) has been given an average recommendation of “Hold” by the sixteen brokerages that are currently covering the company, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $25.00.

ERO has been the topic of several research reports. Raymond James Financial restated an “outperform” rating on shares of Ero Copper in a report on Friday, October 10th. Scotiabank upgraded Ero Copper from a “hold” rating to an “outperform” rating in a research note on Thursday, November 6th. TD Securities downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Tuesday, October 21st. Zacks Research lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. Finally, Stifel Canada cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st.

Institutional Investors Weigh In On Ero Copper

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its stake in shares of Ero Copper by 82.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock worth $3,340,000 after purchasing an additional 124,179 shares during the period. Sprott Inc. increased its stake in Ero Copper by 64.3% in the 1st quarter. Sprott Inc. now owns 748,185 shares of the company’s stock worth $9,068,000 after buying an additional 292,896 shares in the last quarter. TD Asset Management Inc raised its stake in Ero Copper by 234.1% during the 1st quarter. TD Asset Management Inc now owns 935,090 shares of the company’s stock valued at $11,324,000 after purchasing an additional 655,232 shares during the period. Maverick Capital Ltd. purchased a new position in shares of Ero Copper in the first quarter worth $806,000. Finally, Decade Renewable Partners LP boosted its stake in Ero Copper by 61.6% during the first quarter. Decade Renewable Partners LP now owns 721,700 shares of the company’s stock valued at $8,743,000 after buying an additional 275,100 shares during the last quarter. 71.30% of the stock is owned by institutional investors.

Ero Copper Trading Up 3.0%

ERO stock opened at $24.17 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80. The business has a fifty day moving average price of $21.16 and a 200 day moving average price of $17.04. Ero Copper has a fifty-two week low of $9.30 and a fifty-two week high of $24.48. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 17.64 and a beta of 1.25.

Ero Copper (NYSE:ERO) last posted its earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The business had revenue of $177.10 million during the quarter, compared to analyst estimates of $309.30 million. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. Analysts expect that Ero Copper will post 0.71 EPS for the current fiscal year.

About Ero Copper

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.