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

Key Points

• Ero Copper Corp. has received a consensus rating of "Moderate Buy" from ten analysts, with an average target price of $19.00.
• Institutional investors own 71.30% of Ero Copper's stock, with several firms recently increasing their holdings.
• In its latest earnings report, Ero Copper exceeded expectations with $0.46 earnings per share, surpassing analysts' estimates of $0.33.

Ero Copper Corp. (NYSE:ERO - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $19.00.

A number of analysts recently weighed in on ERO shares. Wall Street Zen lowered shares of Ero Copper from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Scotiabank reaffirmed an "outperform" rating on shares of Ero Copper 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 on the stock. Stifel Canada raised Ero Copper to a "strong-buy" rating in a research report on Tuesday, July 8th. 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 Up 0.5%

NYSE:ERO traded up $0.09 during mid-day trading on Friday, reaching $16.80. The company's stock had a trading volume of 712,200 shares, compared to its average volume of 718,722. Ero Copper has a 1 year low of $9.30 and a 1 year high of $23.40. The stock has a fifty day moving average of $14.58 and a 200-day moving average of $13.89. The firm has a market capitalization of $1.74 billion, a PE ratio of 12.26 and a beta of 1.16. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.13. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. The company had revenue of $163.50 million during the quarter, compared to analyst estimates of $263.23 million. Equities research analysts forecast that Ero Copper will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Ero Copper

A number of institutional investors have recently added to or reduced their stakes in ERO. BNP Paribas Financial Markets bought a new stake in Ero Copper during the fourth quarter valued at about $146,000. Bank of America Corp DE boosted its holdings in Ero Copper by 46.2% in the fourth quarter. Bank of America Corp DE now owns 412,925 shares of the company's stock worth $5,566,000 after acquiring an additional 130,524 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Ero Copper in the fourth quarter worth about $185,000. Cubist Systematic Strategies LLC acquired a new stake in Ero Copper in the fourth quarter worth about $567,000. 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 acquiring an additional 3,990 shares in the last quarter. Institutional investors own 71.30% of the company's stock.

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.