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

Ero Copper Corp. (NYSE:ERO) has earned an average recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $30.00.

Several analysts have issued reports on ERO shares. BMO Capital Markets upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 26th. Raymond James upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. StockNews.com lowered shares of Ero Copper from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Ventum Cap Mkts upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Bank of America initiated coverage on shares of Ero Copper in a research note on Tuesday, September 3rd. They set a “buy” rating and a $28.00 price target on the stock.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $22.74 on Friday. The company has a market capitalization of $2.35 billion, a P/E ratio of 34.99 and a beta of 1.19. The company’s 50-day moving average is $19.93 and its 200 day moving average is $20.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. Ero Copper has a fifty-two week low of $11.35 and a fifty-two week high of $24.34.

Ero Copper (NYSE:ERO) last released its earnings results on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm 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 in the prior year, the company earned $0.24 earnings per share. On average, equities research analysts forecast that Ero Copper will post 1.68 earnings per share for the current year.

Institutional Trading of Ero Copper

A number of hedge funds and other institutional investors have recently bought and sold shares of ERO. Platinum Investment Management Ltd. purchased a new position in shares of Ero Copper during the 4th quarter valued at $257,000. TD Asset Management Inc grew its position in Ero Copper by 48.7% during the fourth quarter. TD Asset Management Inc now owns 595,283 shares of the company’s stock worth $9,458,000 after buying an additional 194,976 shares in the last quarter. Boston Partners increased its stake in Ero Copper by 226.9% in the 1st quarter. Boston Partners now owns 726,068 shares of the company’s stock worth $14,010,000 after acquiring an additional 503,972 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Ero Copper by 39.0% in the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after acquiring an additional 1,121,095 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC raised its holdings in shares of Ero Copper by 22.5% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock valued at $7,266,000 after acquiring an additional 62,500 shares in the last quarter. Institutional investors own 71.30% of the company’s stock.

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.