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

Shares of Ero Copper Corp. (NYSE:ERO) have been given a consensus recommendation of “Moderate Buy” by the nineteen ratings firms that are covering the firm, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation, six have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $32.50.

Several equities research analysts have recently weighed in on the stock. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research note on Monday, January 26th. Zacks Research raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Ventum Cap Mkts raised Ero Copper to a “strong-buy” rating in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Ero Copper in a report on Monday, December 29th. Finally, Jefferies Financial Group downgraded Ero Copper from a “buy” rating to a “hold” rating in a research report on Sunday, December 7th.

Ero Copper Stock Up 3.7%

NYSE ERO opened at $31.73 on Tuesday. The stock has a 50 day moving average price of $29.25 and a 200-day moving average price of $22.26. Ero Copper has a one year low of $9.30 and a one year high of $39.80. 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 company has a market capitalization of $3.31 billion, a P/E ratio of 23.86 and a beta of 1.20.

Institutional Investors Weigh In On Ero Copper

Hedge funds have recently made changes to their positions in the company. GMT Capital Corp lifted its position in shares of Ero Copper by 7.7% during the second quarter. GMT Capital Corp now owns 7,467,055 shares of the company’s stock valued at $125,865,000 after buying an additional 536,030 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Ero Copper by 5.0% during the 2nd quarter. Jennison Associates LLC now owns 5,487,290 shares of the company’s stock worth $92,651,000 after acquiring an additional 259,830 shares in the last quarter. Invesco Ltd. raised its stake in shares of Ero Copper by 24.8% during the 3rd quarter. Invesco Ltd. now owns 2,553,915 shares of the company’s stock worth $51,666,000 after acquiring an additional 507,217 shares in the last quarter. Vanguard Group Inc. lifted its position in Ero Copper by 77.6% during the fourth quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock valued at $72,051,000 after acquiring an additional 1,112,428 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ero Copper by 11.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock valued at $50,794,000 after acquiring an additional 250,303 shares in the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

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.