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

Shares of Ero Copper Corp. (NYSE:ERO) have been given a consensus recommendation of “Buy” by the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $26.33.

Several analysts have recently commented on the company. Raymond James reissued an “outperform” rating on shares of Ero Copper in a report on Friday, April 4th. TD Securities reissued a “buy” rating on shares of Ero Copper in a research note on Wednesday, May 7th. TD Cowen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. BMO Capital Markets assumed coverage on Ero Copper in a report on Wednesday, April 16th. They set an “outperform” rating for the company. Finally, National Bankshares upgraded Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 6th.

Institutional Trading of Ero Copper

Institutional investors and hedge funds have recently bought and sold shares of the stock. GMT Capital Corp lifted its stake in Ero Copper by 22.9% in the 1st quarter. GMT Capital Corp now owns 6,931,025 shares of the company’s stock worth $83,938,000 after acquiring an additional 1,292,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Ero Copper in the first quarter worth about $8,994,000. Invesco Ltd. increased its holdings in shares of Ero Copper by 22.6% during the 4th quarter. Invesco Ltd. now owns 3,890,977 shares of the company’s stock worth $52,450,000 after purchasing an additional 715,999 shares during the period. TD Asset Management Inc increased its stake in Ero Copper by 234.1% during the first quarter. TD Asset Management Inc now owns 935,090 shares of the company’s stock valued at $11,324,000 after acquiring an additional 655,232 shares during the period. Finally, Bridgewater Associates LP increased its holdings in Ero Copper by 400.2% in the 4th quarter. Bridgewater Associates LP now owns 818,269 shares of the company’s stock valued at $11,026,000 after buying an additional 654,684 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Price Performance

ERO stock opened at $15.59 on Thursday. The company has a market capitalization of $1.61 billion, a P/E ratio of 91.68 and a beta of 1.13. The business has a 50 day simple moving average of $12.92 and a 200-day simple moving average of $13.31. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. Ero Copper has a twelve month low of $9.30 and a twelve month high of $23.40.

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

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.