Ero Copper Corp. (NYSE:ERO) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Ero Copper Corp. (NYSE:ERO) has received an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $32.33.

Several research firms have commented on ERO. TD Securities reissued a “hold” rating on shares of Ero Copper in a research report on Friday, August 7th. Freedom Broker cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Wall Street Zen lowered Ero Copper from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Weiss Ratings raised Ero Copper from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $34.00 in a research report on Thursday, July 16th.

Hedge Funds Weigh In On Ero Copper

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC boosted its holdings in shares of Ero Copper by 250.0% during the third quarter. Hilton Head Capital Partners LLC now owns 700 shares of the company’s stock worth $26,000 after purchasing an additional 500 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Ero Copper in the fourth quarter worth about $38,000. PenderFund Capital Management Ltd. purchased a new position in shares of Ero Copper during the 2nd quarter worth approximately $39,000. Kercheville Advisors LLC bought a new position in shares of Ero Copper in the 3rd quarter worth approximately $295,000. Finally, Banque Cantonale Vaudoise grew its stake in Ero Copper by 20.0% in the first quarter. Banque Cantonale Vaudoise now owns 9,000 shares of the company’s stock worth $239,000 after purchasing an additional 1,500 shares during the period. 71.30% of the stock is currently owned by institutional investors.

Ero Copper Stock Down 0.6%

Shares of NYSE ERO opened at $29.96 on Friday. Ero Copper has a 12-month low of $19.09 and a 12-month high of $40.83. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.13 billion, a PE ratio of 10.05, a P/E/G ratio of 0.27 and a beta of 1.27. The company’s fifty day simple moving average is $35.82 and its 200 day simple moving average is $30.89.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. The business had revenue of $284.30 million for the quarter, compared to the consensus estimate of $277.64 million. As a group, sell-side analysts forecast that Ero Copper will post 3.91 earnings per share for the current fiscal year.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company’s principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.