Ero Copper Corp. (NYSE:ERO) Receives Consensus Rating of "Moderate Buy" from Brokerages

Ero Copper Corp. (NYSE:ERO - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $23.50.

ERO has been the subject of a number of research reports. Desjardins initiated coverage on Ero Copper in a research note on Friday, April 4th. They issued a "hold" rating for the company. National Bankshares downgraded Ero Copper from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, July 8th. Stifel Nicolaus assumed coverage on Ero Copper in a research report on Wednesday, July 9th. They set a "buy" rating for the company. BMO Capital Markets restated an "outperform" rating on shares of Ero Copper in a research report on Friday, July 4th. Finally, National Bank Financial downgraded Ero Copper from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 9th.

Ero Copper Stock Down 2.8%

Ero Copper stock traded down $0.41 during midday trading on Friday, hitting $14.14. The stock had a trading volume of 1,141,604 shares, compared to its average volume of 826,212. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average price of $15.18 and a 200 day moving average price of $13.62. Ero Copper has a 12 month low of $9.30 and a 12 month high of $23.40. The stock has a market cap of $1.47 billion, a P/E ratio of 83.20 and a beta of 1.18.

Ero Copper (NYSE:ERO - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.18. Ero Copper had a return on equity of 14.24% and a net margin of 3.87%. The company had revenue of $125.10 million during the quarter, compared to the consensus estimate of $179.45 million. Research analysts predict that Ero Copper will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Ero Copper

Institutional investors and hedge funds have recently modified their holdings of the stock. Acuitas Investments LLC purchased a new position in shares of Ero Copper during the 1st quarter valued at $39,000. State of Wyoming bought a new stake in Ero Copper in the fourth quarter worth $76,000. Northwest & Ethical Investments L.P. boosted its holdings in Ero Copper by 22.6% in the first quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company's stock worth $97,000 after purchasing an additional 1,483 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in Ero Copper by 128.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company's stock worth $143,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Ero Copper by 59.5% in the fourth quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock worth $144,000 after purchasing an additional 3,990 shares in the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

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.