Ero Copper Corp. (NYSE:ERO) Receives Consensus Recommendation of “Buy” from Analysts

Ero Copper Corp. (NYSE:ERO) has earned an average recommendation of “Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $26.33.

Several research firms have issued reports on ERO. The Goldman Sachs Group assumed coverage on Ero Copper in a research note on Monday, December 2nd. They set a “buy” rating and a $19.00 target price for the company. StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th.

Ero Copper Stock Up 0.6 %

Shares of NYSE ERO opened at $13.82 on Monday. The company has a market capitalization of $1.43 billion, a P/E ratio of 81.29 and a beta of 1.12. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. The company has a 50 day simple moving average of $15.30 and a 200-day simple moving average of $18.69. Ero Copper has a 1 year low of $12.78 and a 1 year high of $24.34.

Hedge Funds Weigh In On Ero Copper

Hedge funds and other institutional investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new stake in shares of Ero Copper during the third quarter worth about $38,000. Toronto Dominion Bank lifted its holdings in Ero Copper by 38.7% during the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after buying an additional 709 shares in the last quarter. Chesapeake Capital Corp IL purchased a new position in Ero Copper in the 2nd quarter valued at approximately $351,000. Sentry Investment Management LLC acquired a new position in shares of Ero Copper in the third quarter worth $457,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ero Copper by 6.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,408 shares of the company’s stock worth $522,000 after acquiring an additional 1,475 shares during the period. 71.30% of the stock is currently owned by hedge funds and other 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.