Ero Copper Corp. (NYSE:ERO) Receives Average Rating of “Buy” from Analysts

Shares of Ero Copper Corp. (NYSE:ERO) have been given an average rating of “Buy” by the eight analysts that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $26.33.

ERO has been the topic of a number of recent analyst reports. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. The Goldman Sachs Group initiated coverage on Ero Copper in a report on Monday, December 2nd. They issued a “buy” rating and a $19.00 target price on the stock.

Ero Copper Stock Up 0.6 %

ERO stock opened at $13.82 on Monday. The company’s 50 day moving average price is $15.30 and its 200 day moving average price is $18.69. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 81.29 and a beta of 1.12. Ero Copper has a fifty-two week low of $12.78 and a fifty-two week high of $24.34. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC acquired a new position in Ero Copper in the third quarter valued at $38,000. Toronto Dominion Bank lifted its holdings in shares of Ero Copper by 38.7% in the 2nd 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 last quarter. Chesapeake Capital Corp IL acquired a new stake in shares of Ero Copper in the 2nd quarter valued at about $351,000. Sentry Investment Management LLC purchased a new position in Ero Copper during the 3rd quarter worth approximately $457,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ero Copper by 6.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,408 shares of the company’s stock worth $522,000 after buying an additional 1,475 shares during the period. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Company Profile

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.