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

Ero Copper Corp. (NYSE:ERO) has received a consensus recommendation of “Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.33.

Several research firms have recently weighed in on ERO. TD Cowen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group assumed coverage on shares of Ero Copper in a research report on Monday, December 2nd. They set a “buy” rating and a $19.00 price target for the company. Finally, TD Securities upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th.

Ero Copper Stock Performance

Shares of Ero Copper stock opened at $13.39 on Friday. Ero Copper has a 12 month low of $11.11 and a 12 month high of $24.34. The firm has a market capitalization of $1.39 billion, a P/E ratio of 78.74 and a beta of 1.17. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $13.28 and a two-hundred day simple moving average of $15.86.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The firm had revenue of $122.50 million during the quarter, compared to the consensus estimate of $183.26 million. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. On average, equities analysts forecast that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp grew its stake in shares of Ero Copper by 4.2% in the 4th quarter. Mackenzie Financial Corp now owns 47,380 shares of the company’s stock worth $638,000 after buying an additional 1,896 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Ero Copper by 8.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 31,915 shares of the company’s stock valued at $430,000 after buying an additional 2,550 shares in the last quarter. Temasek Holdings Private Ltd grew its stake in Ero Copper by 9.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 592,821 shares of the company’s stock worth $7,991,000 after purchasing an additional 50,400 shares in the last quarter. State of Wyoming purchased a new stake in Ero Copper in the fourth quarter worth about $76,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ero Copper by 5.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,527,158 shares of the company’s stock valued at $47,529,000 after buying an additional 176,637 shares during the period. 71.30% of the stock is currently owned by hedge funds and other 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.