Ero Copper Corp. (NYSE:ERO) Given Consensus Rating of "Moderate Buy" by 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.

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

ERO has been the topic of several research analyst reports. Scotiabank reissued an "outperform" rating on shares of Ero Copper in a research note on Tuesday, July 8th. Stifel Canada raised shares of Ero Copper to a "strong-buy" rating in a research note on Tuesday, July 8th. National Bank Financial lowered shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 9th. BMO Capital Markets reissued an "outperform" rating on shares of Ero Copper in a research note on Friday, July 4th. Finally, Raymond James Financial raised shares of Ero Copper to a "moderate buy" rating in a research note on Monday, June 30th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Acuitas Investments LLC purchased a new stake in shares of Ero Copper in the first quarter valued at about $39,000. State of Wyoming purchased a new stake in Ero Copper during the fourth quarter worth about $76,000. Northwest & Ethical Investments L.P. increased its holdings in Ero Copper by 22.6% during the first quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company's stock worth $97,000 after buying an additional 1,483 shares during the last quarter. Deutsche Bank AG increased its holdings in Ero Copper by 59.5% during the fourth quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock worth $144,000 after buying an additional 3,990 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Ero Copper during the fourth quarter worth about $146,000. Institutional investors and hedge funds own 71.30% of the company's stock.

Ero Copper Trading Down 0.0%

ERO opened at $16.93 on Friday. Ero Copper has a fifty-two week low of $9.30 and a fifty-two week high of $23.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 12.35 and a beta of 1.16. The company's 50 day moving average price is $14.45 and its two-hundred day moving average price is $13.75.

Ero Copper (NYSE:ERO - Get Free Report) last posted its earnings results 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 firm had revenue of $163.50 million for the quarter, compared to analyst estimates of $263.23 million. As a group, research analysts predict that Ero Copper will post 0.71 earnings per share for the current year.

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.

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