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

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $26.33.

A number of research firms have weighed in on ERO. The Goldman Sachs Group began coverage on shares of Ero Copper in a report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price objective for the company. StockNews.com upgraded Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th.

Ero Copper Stock Up 1.8 %

Shares of ERO opened at $13.67 on Friday. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 80.43 and a beta of 1.15. Ero Copper has a 52 week low of $12.78 and a 52 week high of $24.34. The stock’s 50-day moving average price is $14.16 and its 200-day moving average price is $17.71. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $124.80 million for the quarter, compared to analyst estimates of $148.80 million. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, sell-side analysts predict that Ero Copper will post 0.92 EPS for the current year.

Institutional Investors Weigh In On Ero Copper

Institutional investors have recently bought and sold shares of the company. Impala Asset Management LLC lifted its position in shares of Ero Copper by 12.7% in the third quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock valued at $49,208,000 after acquiring an additional 248,390 shares in the last quarter. Jennison Associates LLC lifted its holdings in Ero Copper by 4.3% in the 3rd quarter. Jennison Associates LLC now owns 5,710,827 shares of the company’s stock valued at $127,149,000 after purchasing an additional 237,345 shares in the last quarter. FMR LLC lifted its holdings in Ero Copper by 1.8% in the 3rd 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 in the last quarter. Temasek Holdings Private Ltd boosted its stake in Ero Copper by 41.2% during the 3rd quarter. Temasek Holdings Private Ltd now owns 542,421 shares of the company’s stock worth $12,080,000 after purchasing an additional 158,294 shares during the last quarter. Finally, Mirabella Financial Services LLP grew its holdings in shares of Ero Copper by 608.2% during the third quarter. Mirabella Financial Services LLP now owns 143,252 shares of the company’s stock worth $3,189,000 after buying an additional 123,023 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Company Profile

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.