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

Shares of Ero Copper Corp. (NYSE:ERO) have been given a consensus recommendation of “Buy” by the five brokerages that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $32.00.

ERO has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. BMO Capital Markets upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. Ventum Cap Mkts upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of Ero Copper from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Finally, Scotiabank raised Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 30th.

Institutional Investors Weigh In On Ero Copper

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in Ero Copper by 39.0% in the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after buying an additional 1,121,095 shares during the period. Montrusco Bolton Investments Inc. raised its holdings in shares of Ero Copper by 31.7% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock valued at $13,435,000 after buying an additional 203,613 shares during the period. Fiera Capital Corp raised its stake in shares of Ero Copper by 24.1% during the fourth quarter. Fiera Capital Corp now owns 785,104 shares of the company’s stock valued at $12,454,000 after purchasing an additional 152,245 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Ero Copper by 4.1% during the first quarter. Russell Investments Group Ltd. now owns 783,756 shares of the company’s stock worth $15,111,000 after purchasing an additional 30,665 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of Ero Copper by 226.9% in the first quarter. Boston Partners now owns 726,068 shares of the company’s stock valued at $14,010,000 after purchasing an additional 503,972 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Stock Performance

Shares of ERO opened at $20.55 on Tuesday. The company has a market capitalization of $2.12 billion, a PE ratio of 31.62 and a beta of 1.19. Ero Copper has a 52-week low of $11.35 and a 52-week high of $24.34. The company has a 50-day simple moving average of $20.48 and a 200-day simple moving average of $20.01. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59.

Ero Copper (NYSE:ERO) last issued its earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $117.10 million during the quarter. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. During the same period last year, the business posted $0.24 earnings per share. Equities research analysts predict that Ero Copper will post 1.83 earnings per share for the current fiscal year.

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.