Ero Copper Corp. (NYSE:ERO) Receives $26.33 Average PT from Analysts

Shares of Ero Copper Corp. (NYSE:ERO) have earned an average recommendation of “Buy” from the eleven research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $26.33.

ERO has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on shares of Ero Copper in a research report on Wednesday, April 16th. They issued an “outperform” rating for the company. Desjardins initiated coverage on shares of Ero Copper in a research report on Friday, April 4th. They issued a “hold” rating for the company. Raymond James reaffirmed an “outperform” rating on shares of Ero Copper in a research report on Friday, April 4th. National Bankshares raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 6th. Finally, TD Cowen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th.

Ero Copper Trading Up 0.3%

Shares of ERO opened at $15.83 on Thursday. The stock has a market capitalization of $1.64 billion, a P/E ratio of 93.12 and a beta of 1.13. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $12.72 and a two-hundred day simple moving average of $13.28. Ero Copper has a twelve month low of $9.30 and a twelve month high of $23.40.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.18. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The business had revenue of $125.10 million during the quarter, compared to analysts’ expectations of $179.45 million. On average, research analysts anticipate that Ero Copper will post 0.71 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Acuitas Investments LLC bought a new stake in Ero Copper during the 1st quarter valued at about $39,000. State of Wyoming purchased a new position in Ero Copper in the fourth quarter worth about $76,000. Northwest & Ethical Investments L.P. raised its holdings in 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 buying an additional 1,050 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in shares of 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 acquiring an additional 6,000 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Ero Copper by 59.5% in the 4th quarter. Deutsche Bank AG now owns 10,700 shares of the company’s stock worth $144,000 after acquiring an additional 3,990 shares during the last quarter. 71.30% of the stock is currently owned by 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.