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

Ero Copper Corp. (NYSE:ERO) has been given an average rating of “Moderate Buy” by the eighteen ratings firms that are covering the stock, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $32.33.

Several equities research analysts have recently commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Zacks Research raised shares of Ero Copper from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 15th. Bradesco Corretora lowered shares of Ero Copper from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a research report on Tuesday, September 1st. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Ero Copper in a report on Wednesday.

Institutional Investors Weigh In On Ero Copper

Hedge funds have recently made changes to their positions in the company. Hillsdale Investment Management Inc. grew its position in shares of Ero Copper by 602.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company’s stock worth $47,767,000 after buying an additional 1,445,645 shares during the period. Impala Asset Management LLC purchased a new position in Ero Copper during the 2nd quarter valued at about $31,201,000. Kapitalo Investimentos Ltda purchased a new position in Ero Copper during the 2nd quarter valued at about $28,802,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Ero Copper by 4,913.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock valued at $26,000,000 after purchasing an additional 955,487 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in Ero Copper during the second quarter valued at approximately $25,121,000. 71.30% of the stock is currently owned by institutional investors.

Ero Copper Price Performance

Shares of Ero Copper stock opened at $37.87 on Wednesday. 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 company has a market cap of $3.95 billion, a PE ratio of 12.71, a P/E/G ratio of 0.30 and a beta of 1.27. The business has a 50 day moving average of $33.48 and a 200 day moving average of $29.61. Ero Copper has a 52 week low of $18.02 and a 52 week high of $40.83.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $284.30 million during the quarter, compared to analyst estimates of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. As a group, equities research analysts forecast that Ero Copper will post 4.28 earnings per share for the current year.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper and associated mineral products. The company’s operations are located in Brazil, where it produces copper concentrate and may recover gold and other byproducts from its mineral deposits.

Ero Copper’s principal assets include the Caraíba Operations in the state of Bahia and the Tucumã Project in the state of Pará. Caraíba is an established copper mining complex that includes underground and open-pit mines, processing facilities and related infrastructure.