Ero Copper Corp. (NYSE:ERO) Receives Average Rating of "Hold" from Analysts

Key Points

• Ero Copper has a consensus analyst rating of "Hold" from 17 analysts (11 hold, 4 buy, 2 strong buy) with an average 1-year price target of $31.50.
• The company posted a quarterly EPS miss of $1.04 vs. $1.06 expected and revenue of $320.2M vs. $430.46M expected, though net margin was 33.56% and ROE 27.09%; analysts forecast FY EPS of 4.31.
• Ero trades around $27.28 with a market cap of $2.84B, a P/E of 10.74, a one-year range of $12.03–$39.80, and roughly 71.3% institutional ownership.

Ero Copper Corp. (NYSE:ERO - Get Free Report) has received a consensus recommendation of "Hold" from the seventeen analysts that are covering the firm, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $31.50.

Several research firms have recently commented on ERO. Freedom Capital raised shares of Ero Copper to a "strong-buy" rating in a research note on Tuesday, December 30th. The Goldman Sachs Group lowered shares of Ero Copper from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $33.00 to $31.00 in a research note on Tuesday, April 14th. ATB Cormark Capital Markets raised shares of Ero Copper to a "moderate buy" rating in a research note on Friday, February 6th. Scotiabank reissued an "outperform" rating on shares of Ero Copper in a research note on Monday, January 26th. Finally, Bank of America lowered shares of Ero Copper from a "buy" rating to a "neutral" rating in a research note on Monday, February 9th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. increased its position in shares of Ero Copper by 2.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company's stock valued at $503,000 after purchasing an additional 380 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Ero Copper by 3.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company's stock valued at $513,000 after purchasing an additional 574 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Ero Copper in the 4th quarter valued at $25,000. Public Employees Retirement System of Ohio raised its holdings in shares of Ero Copper by 3.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company's stock valued at $933,000 after purchasing an additional 1,107 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ero Copper in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 71.30% of the company's stock.

Ero Copper Trading Up 0.0%

NYSE ERO opened at $27.28 on Friday. The firm has a 50 day simple moving average of $28.63 and a 200-day simple moving average of $27.12. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. Ero Copper has a one year low of $12.03 and a one year high of $39.80. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 10.74 and a beta of 1.29.

Ero Copper (NYSE:ERO - Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). Ero Copper had a net margin of 33.56% and a return on equity of 27.09%. The business had revenue of $320.20 million during the quarter, compared to analysts' expectations of $430.46 million. Equities research analysts anticipate that Ero Copper will post 4.31 EPS for the current fiscal year.

About Ero Copper

Ero Copper Corp NYSE: ERO is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.

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