Ero Copper Corp. (NYSE:ERO) Receives Average Rating of “Hold” from Brokerages

Ero Copper Corp. (NYSE:ERO) has received an average recommendation of “Hold” from the sixteen research firms that are presently covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $25.00.

ERO has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ero Copper in a research report on Wednesday, October 8th. Scotiabank raised Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Thursday. Stifel Canada cut Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. National Bankshares reiterated a “sector perform” rating on shares of Ero Copper in a report on Tuesday, August 5th. Finally, TD Cowen restated a “hold” rating on shares of Ero Copper in a report on Tuesday, October 21st.

Institutional Trading of Ero Copper

Institutional investors and hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. acquired a new position in Ero Copper during the first quarter valued at approximately $255,000. Goldman Sachs Group Inc. increased its position in shares of Ero Copper by 82.0% in the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock worth $3,340,000 after acquiring an additional 124,179 shares in the last quarter. Sprott Inc. raised its stake in shares of Ero Copper by 64.3% in the 1st quarter. Sprott Inc. now owns 748,185 shares of the company’s stock valued at $9,068,000 after acquiring an additional 292,896 shares during the period. Wincap Financial LLC lifted its holdings in shares of Ero Copper by 29.4% during the 1st quarter. Wincap Financial LLC now owns 96,510 shares of the company’s stock valued at $1,170,000 after acquiring an additional 21,948 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in Ero Copper by 234.1% during the 1st quarter. TD Asset Management Inc now owns 935,090 shares of the company’s stock worth $11,324,000 after purchasing an additional 655,232 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Stock Performance

NYSE:ERO opened at $21.71 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80. The firm has a market cap of $2.25 billion, a PE ratio of 15.85 and a beta of 1.25. The firm has a 50 day simple moving average of $19.35 and a 200-day simple moving average of $16.09. Ero Copper has a 1-year low of $9.30 and a 1-year high of $24.48.

Ero Copper (NYSE:ERO) last released its earnings results on Tuesday, November 4th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.09). The firm had revenue of $177.10 million during the quarter, compared to analysts’ expectations of $309.30 million. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%. On average, equities analysts expect that Ero Copper will post 0.71 EPS for the current year.

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.