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

Key Points

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Ero Copper Corp. (NYSE:ERO - Get Free Report) has been given an average rating of "Moderate Buy" by the eleven research firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $23.50.

A number of equities analysts have issued reports on the stock. BMO Capital Markets restated an "outperform" rating on shares of Ero Copper in a research report on Friday, July 4th. TD Securities reiterated a "buy" rating on shares of Ero Copper in a research report on Wednesday, May 7th. Stifel Nicolaus started coverage on shares of Ero Copper in a research report on Wednesday, July 9th. They set a "buy" rating on the stock. Raymond James Financial upgraded shares of Ero Copper to a "moderate buy" rating in a research report on Monday, June 30th. Finally, Wall Street Zen cut shares of Ero Copper from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th.

Ero Copper Price Performance

ERO stock opened at $13.79 on Tuesday. The firm's 50-day moving average price is $14.94 and its two-hundred day moving average price is $13.58. Ero Copper has a 12-month low of $9.30 and a 12-month high of $23.40. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 10.07 and a beta of 1.16. The company has a current ratio of 1.05, a quick ratio of 0.80 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 (EPS) for the quarter, beating 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 analysts' expectations of $263.23 million. As a group, equities analysts predict that Ero Copper will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On Ero Copper

Institutional investors and hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Ero Copper in the 1st quarter worth $255,000. Wincap Financial LLC boosted its stake in shares of Ero Copper by 29.4% in the 1st quarter. Wincap Financial LLC now owns 96,510 shares of the company's stock worth $1,170,000 after buying an additional 21,948 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Ero Copper by 46.2% in the 4th quarter. Bank of America Corp DE now owns 412,925 shares of the company's stock worth $5,566,000 after buying an additional 130,524 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Ero Copper in the 4th quarter worth $991,000. Finally, TD Asset Management Inc boosted its stake in shares of Ero Copper by 234.1% in the 1st quarter. TD Asset Management Inc now owns 935,090 shares of the company's stock worth $11,324,000 after buying an additional 655,232 shares during the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

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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