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

Ero Copper Corp. (NYSE:ERO) has earned an average rating of “Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $26.33.

Several analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Ero Copper in a research report on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective for the company. StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th.

Ero Copper Stock Up 0.4 %

Shares of ERO opened at $14.40 on Monday. The firm has a 50 day simple moving average of $14.84 and a two-hundred day simple moving average of $18.48. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. Ero Copper has a one year low of $12.78 and a one year high of $24.34. The company has a market cap of $1.49 billion, a P/E ratio of 84.71 and a beta of 1.15.

Institutional Investors Weigh In On Ero Copper

A number of institutional investors have recently added to or reduced their stakes in ERO. Exchange Traded Concepts LLC bought a new position in shares of Ero Copper during the third quarter valued at $38,000. Toronto Dominion Bank increased its holdings in Ero Copper by 38.7% in the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after purchasing an additional 709 shares during the period. Chesapeake Capital Corp IL bought a new position in Ero Copper during the 2nd quarter worth $351,000. Sentry Investment Management LLC acquired a new position in Ero Copper during the 3rd quarter worth about $457,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ero Copper by 6.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,408 shares of the company’s stock valued at $522,000 after buying an additional 1,475 shares during the last quarter. 71.30% of the stock is 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.