Ero Copper Corp. (ERO) - What Are Researchers Thinking About This Stock?

Key Points

• Analyst consensus is “Moderate Buy”: Of 18 analysts, 11 rate Ero Copper a hold, five recommend buy, and two recommend strong buy. The average 12-month price target is $32.33, below the stock’s reported $34.09 price.
• Recent analyst views were mixed but included a notable upgrade from Bank of America, which raised Ero Copper to “buy” and increased its price target from $30 to $34. Other firms maintained hold or neutral ratings.
• Quarterly results exceeded expectations: Ero Copper reported earnings of $0.83 per share versus the $0.74 consensus estimate, while revenue reached $284.3 million compared with expectations of $277.64 million. Institutional investors own approximately 71.3% of the company.

Shares of Ero Copper Corp. (NYSE:ERO - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eighteen research firms that are covering the firm, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $32.33.

A number of research firms recently weighed in on ERO. Zacks Research raised shares of Ero Copper from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 15th. Bank of America raised shares of Ero Copper from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $30.00 to $34.00 in a research report on Thursday, July 16th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Ero Copper in a research report on Monday, July 6th. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Ero Copper in a report on Wednesday, September 23rd. Finally, TD Securities reissued a "hold" rating on shares of Ero Copper in a research report on Friday, August 7th.

Hedge Funds Weigh In On Ero Copper

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in Ero Copper in the 4th quarter valued at about $38,000. PenderFund Capital Management Ltd. acquired a new stake in Ero Copper during the second quarter worth approximately $39,000. Banque Cantonale Vaudoise lifted its position in Ero Copper by 20.0% during the first quarter. Banque Cantonale Vaudoise now owns 9,000 shares of the company's stock worth $239,000 after acquiring an additional 1,500 shares during the last quarter. Corient Private Wealth LP acquired a new stake in Ero Copper during the second quarter worth approximately $242,000. Finally, Themes Management Co LLC bought a new stake in shares of Ero Copper during the first quarter worth approximately $255,000. 71.30% of the stock is owned by institutional investors.

Ero Copper Trading Down 1.9%

Shares of ERO stock opened at $34.09 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $3.56 billion, a P/E ratio of 11.44, a P/E/G ratio of 0.27 and a beta of 1.27. Ero Copper has a 12-month low of $19.09 and a 12-month high of $40.83. The firm has a 50-day moving average price of $36.17 and a 200 day moving average price of $30.73.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. The business had revenue of $284.30 million for the quarter, compared to analysts' expectations of $277.64 million. Research analysts forecast that Ero Copper will post 4.28 earnings per share for the current fiscal year.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper, gold and other mineral resources in Brazil. The company is headquartered in Vancouver, British Columbia, and its shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol ERO.

Ero Copper's principal assets include the Caraíba Mining Complex in the state of Bahia, which produces copper, and the NX Gold operation in Mato Grosso, which produces gold.

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