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

Shares of Ero Copper Corp. (NYSE:ERO) have been given a consensus rating of “Moderate Buy” by the sixteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $32.3333.

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered Ero Copper from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. Finally, Bank of America upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $34.00 in a research note on Thursday.

Institutional Trading of Ero Copper

A number of hedge funds and other institutional investors have recently made changes to their positions in ERO. FIL Ltd boosted its holdings in shares of Ero Copper by 74.1% in the fourth quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock valued at $330,161,000 after acquiring an additional 4,966,427 shares in the last quarter. Invesco Ltd. raised its holdings in 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 purchasing an additional 273,470 shares in the last quarter. Vanguard Group Inc. lifted its position in Ero Copper by 77.6% in the fourth quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock worth $72,051,000 after purchasing an additional 1,112,428 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ero Copper by 11.1% during the 3rd 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 in the last quarter. Finally, Cape Ann Asset Management Ltd boosted its stake in Ero Copper by 13.5% during the 1st 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 in the last quarter. 71.30% of the stock is currently owned by institutional investors.

Ero Copper Stock Down 3.2%

ERO stock opened at $24.54 on Friday. The stock has a market cap of $2.56 billion, a PE ratio of 8.73 and a beta of 1.20. The firm’s 50-day simple moving average is $27.76 and its 200 day simple moving average is $28.88. Ero Copper has a fifty-two week low of $12.79 and a fifty-two week high of $39.80. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

Ero Copper (NYSE:ERO) last posted its earnings results on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. The firm had revenue of $263.20 million during the quarter, compared to analyst estimates of $245.51 million. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. As a group, sell-side analysts predict that Ero Copper will post 4.06 EPS for the current year.

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.