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

Ero Copper Corp. (NYSE:ERO) has earned a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the firm, Marketbeat reports. Twelve investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $25.00.

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. The Goldman Sachs Group increased their target price on Ero Copper from $18.50 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Stifel Canada downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. TD Cowen restated a “hold” rating on shares of Ero Copper in a research note on Tuesday, October 21st. Finally, Canaccord Genuity Group downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th.

Ero Copper Stock Up 2.1%

ERO stock opened at $28.02 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The firm has a 50 day simple moving average of $23.37 and a 200-day simple moving average of $18.76. The company has a market capitalization of $2.91 billion, a P/E ratio of 21.06 and a beta of 1.23. Ero Copper has a twelve month low of $9.30 and a twelve month high of $28.60.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The company had revenue of $177.10 million for the quarter, compared to the consensus estimate of $309.30 million. Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. On average, equities research analysts predict that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of institutional investors have recently modified their holdings of ERO. Banque Cantonale Vaudoise bought a new position in Ero Copper in the third quarter worth about $111,000. Shay Capital LLC bought a new stake in shares of Ero Copper in the 3rd quarter worth approximately $202,000. Versor Investments LP acquired a new position in Ero Copper during the 3rd quarter valued at approximately $217,000. Dynamic Technology Lab Private Ltd acquired a new position in Ero Copper during the 1st quarter valued at approximately $217,000. Finally, Jain Global LLC bought a new position in Ero Copper during the 3rd quarter worth $239,000. Institutional investors own 71.30% of the company’s stock.

About Ero Copper

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.