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

Shares of Ero Copper Corp. (NYSE:ERO) have been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $31.50.

Several research analysts have recently issued reports on the stock. Raymond James Financial downgraded shares of Ero Copper from a “moderate buy” rating to a “hold” rating in a report on Monday, February 9th. Zacks Research downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. ATB Cormark Capital Markets upgraded shares of Ero Copper to a “moderate buy” rating in a report on Friday, February 6th. The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $33.00 to $31.00 in a report on Tuesday, April 14th. Finally, National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th.

Ero Copper Stock Down 2.4%

NYSE ERO opened at $28.17 on Thursday. The business has a fifty day moving average price of $27.55 and a two-hundred day moving average price of $28.05. The stock has a market capitalization of $2.94 billion, a PE ratio of 10.02 and a beta of 1.13. 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 has a fifty-two week low of $12.79 and a fifty-two week high of $39.80.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.13. The company had revenue of $263.20 million during the quarter, compared to the consensus estimate of $245.51 million. Ero Copper had a net margin of 31.63% and a return on equity of 29.86%. Equities analysts expect that Ero Copper will post 3.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FIL Ltd increased its holdings in shares of Ero Copper by 74.1% during the fourth quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock worth $330,161,000 after buying an additional 4,966,427 shares in the last quarter. Invesco Ltd. increased its holdings in shares of 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 buying an additional 273,470 shares in the last quarter. Vanguard Group Inc. increased its holdings in Ero Copper by 77.6% in the fourth quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock valued at $72,051,000 after purchasing an additional 1,112,428 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 purchasing an additional 250,303 shares during the period. Finally, Cape Ann Asset Management Ltd increased its holdings in Ero Copper by 13.5% in the first quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock valued at $51,983,000 after purchasing an additional 231,485 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.