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

Shares of Ero Copper Corp. (NYSE:ERO) have been given a consensus recommendation of “Buy” by the ten brokerages that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $26.33.

Several brokerages have commented on ERO. The Goldman Sachs Group started coverage on Ero Copper in a report on Monday, December 2nd. They set a “buy” rating and a $19.00 price target on the stock. TD Securities upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Finally, TD Cowen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th.

Ero Copper Trading Down 3.2 %

Shares of NYSE:ERO opened at $13.37 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.38 billion, a PE ratio of 78.66 and a beta of 1.17. Ero Copper has a 1 year low of $11.11 and a 1 year high of $24.34. The firm has a fifty day moving average price of $13.30 and a 200 day moving average price of $15.99.

Ero Copper (NYSE:ERO) last released 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 company had revenue of $122.50 million for the quarter, compared to the consensus estimate of $183.26 million. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. Analysts expect that Ero Copper will post 0.71 EPS for the current fiscal year.

Institutional Trading of Ero Copper

A number of hedge funds have recently bought and sold shares of the stock. Montrusco Bolton Investments Inc. raised its position in shares of Ero Copper by 17.2% during the third quarter. Montrusco Bolton Investments Inc. now owns 746,357 shares of the company’s stock valued at $16,635,000 after buying an additional 109,633 shares during the last quarter. Mirabella Financial Services LLP lifted its position in shares of Ero Copper by 608.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 143,252 shares of the company’s stock worth $3,189,000 after acquiring an additional 123,023 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Ero Copper by 8.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 335,845 shares of the company’s stock worth $7,484,000 after acquiring an additional 26,898 shares during the period. FMR LLC increased its position in shares of Ero Copper by 1.8% during the third quarter. FMR LLC now owns 11,869,851 shares of the company’s stock valued at $264,262,000 after purchasing an additional 206,405 shares during the period. Finally, Bridgewater Associates LP raised its stake in shares of Ero Copper by 15.7% in the third quarter. Bridgewater Associates LP now owns 163,585 shares of the company’s stock valued at $3,646,000 after purchasing an additional 22,163 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

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.