Ero Copper (NYSE:ERO) Earns Hold Rating from Analysts at Desjardins

Desjardins assumed coverage on shares of Ero Copper (NYSE:ERO) in a report published on Friday, Marketbeat reports. The brokerage issued a hold rating on the stock.

Several other brokerages also recently commented on ERO. TD Securities raised Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. TD Cowen raised Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $26.33.

Ero Copper Stock Down 11.9 %

Shares of NYSE ERO opened at $9.92 on Friday. Ero Copper has a 52-week low of $9.58 and a 52-week high of $24.34. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. The business has a fifty day moving average of $12.97 and a two-hundred day moving average of $15.43. The stock has a market cap of $1.03 billion, a PE ratio of 58.32 and a beta of 1.10.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). The firm had revenue of $122.50 million for the quarter, compared to the consensus estimate of $183.26 million. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. As a group, equities research analysts expect that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ERO. Mackenzie Financial Corp increased its stake in shares of Ero Copper by 4.2% in the 4th quarter. Mackenzie Financial Corp now owns 47,380 shares of the company’s stock valued at $638,000 after buying an additional 1,896 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Ero Copper by 8.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 31,915 shares of the company’s stock valued at $430,000 after acquiring an additional 2,550 shares during the period. Temasek Holdings Private Ltd boosted its holdings in Ero Copper by 9.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 592,821 shares of the company’s stock valued at $7,991,000 after acquiring an additional 50,400 shares during the last quarter. State of Wyoming acquired a new stake in Ero Copper in the fourth quarter worth about $76,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ero Copper by 5.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,527,158 shares of the company’s stock worth $47,529,000 after purchasing an additional 176,637 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.