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

Ero Copper Corp. (NYSE:ERO) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $32.50.

A number of equities research analysts have issued reports on the stock. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research report on Monday, January 26th. Zacks Research downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Canaccord Genuity Group upgraded Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, January 14th. Bank of America cut Ero Copper from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Finally, Wall Street Zen raised Ero Copper from a “hold” rating to a “buy” rating in a research note on Saturday.

Ero Copper Stock Down 4.2%

Shares of ERO stock opened at $27.71 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. The stock has a market cap of $2.89 billion, a PE ratio of 10.91 and a beta of 1.17. The business’s fifty day moving average is $31.33 and its 200-day moving average is $24.45. Ero Copper has a 1 year low of $9.30 and a 1 year high of $39.80.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Thursday, March 5th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.02). The business had revenue of $320.20 million during the quarter, compared to analyst estimates of $430.46 million. Ero Copper had a return on equity of 27.09% and a net margin of 33.56%. Equities analysts expect that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

A number of institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in Ero Copper by 2.3% during the first quarter. Royal Bank of Canada now owns 188,384 shares of the company’s stock worth $2,283,000 after acquiring an additional 4,325 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Ero Copper during the 1st quarter worth about $217,000. Goldman Sachs Group Inc. lifted its stake in shares of Ero Copper by 82.0% in the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock valued at $3,340,000 after buying an additional 124,179 shares during the period. Empowered Funds LLC acquired a new stake in Ero Copper during the first quarter worth about $356,000. Finally, Envestnet Asset Management Inc. increased its stake in Ero Copper by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock valued at $948,000 after acquiring an additional 1,152 shares during the period. 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.