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

Ero Copper Corp. (NYSE:ERO) has been given a consensus rating of “Buy” by the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $30.00.

ERO has been the topic of a number of analyst reports. Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Finally, Bank of America initiated coverage on shares of Ero Copper in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price objective for the company.

Ero Copper Stock Performance

Shares of NYSE:ERO opened at $15.28 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Ero Copper has a 12 month low of $11.44 and a 12 month high of $24.34. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 89.88 and a beta of 1.23. The firm’s 50-day moving average is $19.75 and its 200 day moving average is $20.40.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC bought a new position in shares of Ero Copper in the 3rd quarter worth $38,000. Toronto Dominion Bank raised its holdings in Ero Copper by 38.7% in the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after purchasing an additional 709 shares in the last quarter. Chesapeake Capital Corp IL purchased a new stake in shares of Ero Copper during the second quarter valued at about $351,000. Platinum Investment Management Ltd. boosted its holdings in shares of Ero Copper by 15.9% in the 1st quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock valued at $362,000 after buying an additional 2,564 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new position in shares of Ero Copper in the 3rd quarter worth approximately $457,000. Hedge funds and other institutional investors 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.