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

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

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Ero Copper in a research report on Friday, December 5th. Bank of America cut shares of Ero Copper from a “buy” rating to a “neutral” rating in a research note on Monday, February 9th. Jefferies Financial Group downgraded Ero Copper from a “buy” rating to a “hold” rating in a research report on Sunday, December 7th. Finally, Freedom Capital upgraded Ero Copper to a “strong-buy” rating in a research note on Tuesday, December 30th.

Institutional Investors Weigh In On Ero Copper

Several institutional investors and hedge funds have recently bought and sold shares of ERO. Rockefeller Capital Management L.P. acquired a new stake in shares of Ero Copper during the 4th quarter valued at about $673,000. Corient Private Wealth LLC acquired a new position in Ero Copper in the fourth quarter worth about $246,000. Caitong International Asset Management Co. Ltd acquired a new position in Ero Copper in the fourth quarter worth about $38,000. Invesco Ltd. lifted its stake in Ero Copper by 10.7% during the fourth quarter. Invesco Ltd. now owns 2,827,385 shares of the company’s stock worth $79,987,000 after purchasing an additional 273,470 shares during the period. Finally, Beacon Pointe Advisors LLC acquired a new stake in Ero Copper during the fourth quarter valued at approximately $314,000. Institutional investors own 71.30% of the company’s stock.

Ero Copper Stock Up 6.7%

ERO stock opened at $26.60 on Wednesday. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 10.47 and a beta of 1.17. The company has a 50-day moving average of $30.09 and a two-hundred day moving average of $25.91. Ero Copper has a 52-week low of $9.30 and a 52-week high of $39.80. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Thursday, March 5th. The company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.02). The business had revenue of $320.20 million for 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%. As a group, equities research analysts anticipate that Ero Copper will post 0.71 EPS for the current year.

About Ero Copper

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.