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

Shares of Ero Copper Corp. (NYSE:ERO) have earned a consensus rating of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $26.33.

Several brokerages have commented on ERO. TD Securities upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. TD Cowen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group started coverage on Ero Copper in a research note on Monday, December 2nd. They issued a “buy” rating and a $19.00 price objective on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. raised its stake in shares of Ero Copper by 22.6% during the fourth quarter. Invesco Ltd. now owns 3,890,977 shares of the company’s stock valued at $52,450,000 after acquiring an additional 715,999 shares during the last quarter. Bridgewater Associates LP increased its position in Ero Copper by 400.2% during the 4th quarter. Bridgewater Associates LP now owns 818,269 shares of the company’s stock valued at $11,026,000 after purchasing an additional 654,684 shares during the period. Boston Partners raised its holdings in Ero Copper by 66.9% during the 4th quarter. Boston Partners now owns 1,101,265 shares of the company’s stock worth $14,850,000 after purchasing an additional 441,413 shares during the last quarter. 683 Capital Management LLC lifted its position in shares of Ero Copper by 20.4% in the 4th quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company’s stock worth $33,272,000 after purchasing an additional 418,367 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Ero Copper in the 4th quarter worth approximately $3,509,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Price Performance

ERO stock opened at $12.93 on Tuesday. The company’s 50-day moving average price is $13.72 and its two-hundred day moving average price is $17.00. Ero Copper has a 12 month low of $12.69 and a 12 month high of $24.34. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.34 billion, a P/E ratio of 76.06 and a beta of 1.14.

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.