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

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned an average recommendation of “Buy” from the twelve research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $26.33.

A number of research firms recently commented on ERO. National Bank Financial raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. StockNews.com upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Desjardins started coverage on shares of Ero Copper in a report on Friday, April 4th. They set a “hold” rating for the company. National Bankshares raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 6th. Finally, BMO Capital Markets started coverage on shares of Ero Copper in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock.

Ero Copper Stock Down 0.4%

Shares of NYSE ERO opened at $13.64 on Friday. The firm’s 50-day moving average is $12.22 and its two-hundred day moving average is $13.63. The company has a market capitalization of $1.41 billion, a PE ratio of 80.24 and a beta of 1.10. Ero Copper has a 12-month low of $9.30 and a 12-month high of $24.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45.

Ero Copper (NYSE:ERO) last posted its earnings results on Monday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.18. The firm had revenue of $125.10 million for the quarter, compared to analyst estimates of $179.45 million. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. Equities analysts anticipate that Ero Copper will post 0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Institutional investors have recently bought and sold shares of the stock. Acuitas Investments LLC acquired a new position in shares of Ero Copper in the 1st quarter valued at $39,000. State of Wyoming purchased a new position in shares of Ero Copper in the 4th quarter worth $76,000. Synergy Asset Management LLC acquired a new position in Ero Copper in the fourth quarter valued at $78,000. Northwest & Ethical Investments L.P. grew its position in Ero Copper by 19.1% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company’s stock valued at $88,000 after acquiring an additional 1,050 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Ero Copper during the fourth quarter valued at about $125,000. 71.30% of the stock is currently 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.