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

Ero Copper Corp. (NYSE:ERO) has earned a consensus rating of “Hold” from the sixteen ratings firms that are currently covering the firm, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $25.00.

ERO has been the topic of several research reports. TD Securities cut shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Raymond James Financial restated an “outperform” rating on shares of Ero Copper in a report on Friday, October 10th. The Goldman Sachs Group increased their price target on shares of Ero Copper from $18.50 to $25.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Cibc World Mkts lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, Ventum Cap Mkts upgraded Ero Copper to a “strong-buy” rating in a research report on Monday, November 3rd.

Institutional Trading of Ero Copper

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwest & Ethical Investments L.P. boosted its stake in Ero Copper by 22.6% during the first quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock worth $97,000 after buying an additional 1,483 shares during the period. Letko Brosseau & Associates Inc. bought a new stake in shares of Ero Copper in the 1st quarter worth about $176,000. Virtu Financial LLC purchased a new position in shares of Ero Copper during the 1st quarter worth about $180,000. XTX Topco Ltd bought a new position in Ero Copper during the 1st quarter valued at about $188,000. Finally, Versor Investments LP bought a new position in Ero Copper during the 3rd quarter valued at about $217,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Trading Down 0.2%

Shares of ERO stock opened at $21.63 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 15.79 and a beta of 1.25. Ero Copper has a 12-month low of $9.30 and a 12-month high of $24.48. The stock’s 50-day moving average price is $19.50 and its 200-day moving average price is $16.20.

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

Ero Copper Company Profile

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.