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

Key Points

• Ero Copper has a consensus analyst rating of “Moderate Buy” from 16 research firms, with an average 12-month price target of $31.50.
• The stock recently rose 5.1% to open at $25.05, while trading below its 50-day and 200-day moving averages.
• The company’s latest earnings beat expectations, reporting $0.69 EPS versus the $0.56 estimate and revenue of $263.2 million versus the $245.51 million forecast.

Shares of Ero Copper Corp. (NYSE:ERO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the sixteen research firms that are covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $31.50.

Several equities research analysts recently issued reports on the company. Scotiabank reiterated an "outperform" rating on shares of Ero Copper in a report on Monday, June 15th. The Goldman Sachs Group cut Ero Copper from a "buy" rating to a "neutral" rating and reduced their target price for the company from $33.00 to $31.00 in a report on Tuesday, April 14th. National Bank Financial upgraded Ero Copper from a "sector perform" rating to an "outperform" rating in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Ero Copper in a research note on Thursday, June 4th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Ero Copper in a research report on Monday.

Ero Copper Stock Up 5.1%

Shares of NYSE ERO opened at $25.05 on Friday. The company's 50-day simple moving average is $27.88 and its 200-day simple moving average is $28.96. Ero Copper has a 52-week low of $12.79 and a 52-week high of $39.80. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 8.91 and a beta of 1.20. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

Ero Copper (NYSE:ERO - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $245.51 million. Equities analysts predict that Ero Copper will post 4 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERO. FNY Investment Advisers LLC acquired a new stake in Ero Copper during the fourth quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Ero Copper in the 4th quarter valued at about $38,000. Kestra Advisory Services LLC acquired a new position in Ero Copper in the 4th quarter valued at about $56,000. SG Americas Securities LLC purchased a new stake in shares of Ero Copper in the 4th quarter valued at approximately $115,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Ero Copper in the 3rd quarter valued at approximately $111,000. Institutional investors and hedge funds own 71.30% of the company's stock.

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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