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

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned an average recommendation of “Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $26.33.

Several equities research analysts have recently issued reports on ERO shares. TD Cowen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group started coverage on Ero Copper in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 target price for the company. Finally, TD Securities raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th.

Ero Copper Stock Down 6.5 %

ERO stock opened at $12.23 on Friday. Ero Copper has a 1-year low of $11.11 and a 1-year high of $24.34. The stock has a market cap of $1.27 billion, a P/E ratio of 71.91 and a beta of 1.17. The stock’s fifty day simple moving average is $13.23 and its two-hundred day simple moving average is $15.80. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). The company had revenue of $122.50 million for the quarter, compared to the consensus estimate of $183.26 million. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. Analysts expect that Ero Copper will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Ero Copper

Several hedge funds have recently made changes to their positions in the stock. State of Wyoming purchased a new position in Ero Copper during the fourth quarter valued at approximately $76,000. Synergy Asset Management LLC purchased a new position in shares of Ero Copper during the 4th quarter valued at $78,000. Northwest & Ethical Investments L.P. increased its holdings in shares of Ero Copper by 19.1% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company’s stock worth $88,000 after purchasing an additional 1,050 shares during the period. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Ero Copper in the fourth quarter worth $125,000. Finally, TD Waterhouse Canada Inc. boosted its stake in Ero Copper by 128.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company’s stock valued at $143,000 after buying an additional 6,000 shares during the period. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

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.