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

Ero Copper Corp. (NYSE:ERO) has received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $32.33.

Several equities analysts have recently issued reports on the company. TD Securities reissued a “hold” rating on shares of Ero Copper in a report on Friday, August 7th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Ero Copper in a report on Wednesday, September 23rd. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $30.00 to $34.00 in a research report on Thursday, July 16th. Scotiabank downgraded Ero Copper from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, October 13th. Finally, Zacks Research lowered Ero Copper from a “hold” rating to a “strong sell” rating in a research report on Monday.

Hedge Funds Weigh In On Ero Copper

Several institutional investors have recently made changes to their positions in the company. Impala Asset Management LLC purchased a new stake in Ero Copper during the second quarter worth $31,201,000. Kapitalo Investimentos Ltda purchased a new position in Ero Copper in the second quarter valued at $28,802,000. Arrowstreet Capital Limited Partnership increased its holdings in Ero Copper by 4,913.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock valued at $26,000,000 after buying an additional 955,487 shares in the last quarter. Bank of America Corp DE purchased a new position in Ero Copper in the second quarter valued at $25,121,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Ero Copper in the second quarter worth about $19,887,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Trading Down 5.3%

Shares of Ero Copper stock opened at $30.28 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The firm has a fifty day moving average price of $35.89 and a 200 day moving average price of $30.90. Ero Copper has a 1 year low of $19.09 and a 1 year high of $40.83. The stock has a market cap of $3.16 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.28 and a beta of 1.27.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. The company had revenue of $284.30 million for the quarter, compared to analyst estimates of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. Equities research analysts predict that Ero Copper will post 3.91 earnings per share for the current year.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company’s principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.