Ero Copper Corp. (NYSE:ERO) Given Average Recommendation of "Buy" by Analysts

Shares of Ero Copper Corp. (NYSE:ERO - Get Free Report) have received a consensus recommendation of "Buy" from the ten ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $26.33.

ERO has been the subject of a number of research analyst reports. Wall Street Zen upgraded Ero Copper from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Desjardins assumed coverage on Ero Copper in a report on Friday, April 4th. They set a "hold" rating on the stock. BMO Capital Markets assumed coverage on Ero Copper in a report on Wednesday, April 16th. They set an "outperform" rating for the company. TD Securities reaffirmed a "buy" rating on shares of Ero Copper in a research report on Wednesday, May 7th. Finally, National Bank Financial raised shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th.

Ero Copper Trading Down 3.0%

ERO traded down $0.53 during mid-day trading on Monday, hitting $16.93. The stock had a trading volume of 946,465 shares, compared to its average volume of 418,336. Ero Copper has a 1-year low of $9.30 and a 1-year high of $23.40. The stock's fifty day simple moving average is $14.56 and its 200-day simple moving average is $13.45. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 99.59 and a beta of 1.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.35 earnings per share for the quarter, topping 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 firm had revenue of $125.10 million during the quarter, compared to the consensus estimate of $179.45 million. As a group, research analysts forecast that Ero Copper will post 0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Keybank National Association OH grew its stake in shares of Ero Copper by 8.0% in the fourth quarter. Keybank National Association OH now owns 26,120 shares of the company's stock valued at $352,000 after acquiring an additional 1,946 shares in the last quarter. Aigen Investment Management LP bought a new stake in Ero Copper in the 4th quarter valued at about $704,000. Raymond James Financial Inc. acquired a new position in shares of Ero Copper during the 4th quarter worth approximately $991,000. Swiss National Bank increased its holdings in shares of Ero Copper by 0.6% during the fourth quarter. Swiss National Bank now owns 194,100 shares of the company's stock worth $2,616,000 after purchasing an additional 1,200 shares during the period. Finally, Boston Partners raised its position in shares of Ero Copper by 66.9% in the fourth quarter. Boston Partners now owns 1,101,265 shares of the company's stock valued at $14,850,000 after buying an additional 441,413 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company's stock.

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.