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

Key Points

• Ero Copper has a consensus “Moderate Buy” rating from 17 analysts, with an average 12-month price target of $32.33 versus the stock’s reported price of $27.39.
• Recent analyst views were mixed but generally improved, including upgrades from Bank of America and Bradesco Corretora, while Goldman Sachs downgraded the shares to “neutral.”
• The company beat quarterly expectations, reporting $0.69 in EPS and $263.2 million in revenue, while institutional investors own a substantial 71.3% of its shares.

Shares of Ero Copper Corp. (NYSE:ERO - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the seventeen research firms that are currently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $32.3333.

Several brokerages have recently issued reports on ERO. Bank of America upgraded shares of Ero Copper from a "neutral" rating to a "buy" rating and upped their target price for the company from $30.00 to $34.00 in a research report on Thursday, July 16th. Weiss Ratings reissued a "hold (c+)" rating on shares of Ero Copper in a research note on Thursday, June 4th. Bradesco Corretora upgraded Ero Copper to an "outperform" rating in a research report on Monday, July 20th. The Goldman Sachs Group lowered 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. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Ero Copper in a report on Monday, July 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in shares of Ero Copper in the fourth quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Ero Copper in the 4th quarter worth about $38,000. Kestra Advisory Services LLC purchased a new position in shares of Ero Copper during the 4th quarter worth about $56,000. Banque Cantonale Vaudoise purchased a new position in shares of Ero Copper during the 3rd quarter worth about $111,000. Finally, SG Americas Securities LLC bought a new position in Ero Copper during the 4th quarter valued at about $115,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Trading Up 1.8%

Shares of ERO opened at $27.39 on Tuesday. The company's fifty day moving average is $27.27 and its 200 day moving average is $28.62. Ero Copper has a fifty-two week low of $13.37 and a fifty-two week high of $39.80. The stock has a market capitalization of $2.86 billion, a PE ratio of 9.75, a P/E/G ratio of 0.21 and a beta of 1.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The business had revenue of $263.20 million during the quarter, compared to analyst estimates of $245.51 million. Sell-side analysts expect that Ero Copper will post 4.02 earnings per share for the current fiscal year.

Ero Copper Company Profile

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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