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

Shares of Ero Copper Corp. (NYSE:ERO) have been given a consensus rating of “Hold” by the eighteen brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $32.3333.

A number of analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research note on Tuesday. Zacks Research cut shares of Ero Copper from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Freedom Broker downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Finally, Bradesco Corretora cut shares of Ero Copper from an “outperform” rating to a “neutral” rating in a research report on Wednesday.

Ero Copper Trading Down 1.4%

ERO opened at $34.82 on Friday. The business has a fifty day moving average price of $30.48 and a 200 day moving average price of $29.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. Ero Copper has a 12 month low of $14.89 and a 12 month high of $40.83. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 0.28 and a beta of 1.27.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $284.30 million for the quarter, compared to analyst estimates of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. Sell-side analysts expect that Ero Copper will post 3.98 earnings per share for the current fiscal year.

Institutional Trading of Ero Copper

A number of institutional investors have recently bought and sold shares of the business. FIL Ltd increased its holdings in shares of Ero Copper by 74.1% in the 4th quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock valued at $330,161,000 after acquiring an additional 4,966,427 shares during the last quarter. Invesco Ltd. boosted its holdings in Ero Copper by 10.7% in the fourth quarter. Invesco Ltd. now owns 2,827,385 shares of the company’s stock valued at $79,987,000 after purchasing an additional 273,470 shares in the last quarter. Vanguard Group Inc. increased its stake in Ero Copper by 77.6% in the fourth quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock valued at $72,051,000 after purchasing an additional 1,112,428 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ero Copper by 11.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock valued at $50,794,000 after purchasing an additional 250,303 shares during the last quarter. Finally, Cape Ann Asset Management Ltd raised its holdings in Ero Copper by 13.5% during the first quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock worth $51,983,000 after purchasing an additional 231,485 shares in the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Company Profile

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.