Ero Copper (NYSE:ERO) Coverage Initiated at Desjardins

Desjardins assumed coverage on shares of Ero Copper (NYSE:ERO) in a report issued on Friday, MarketBeat Ratings reports. The brokerage set a “hold” rating on the stock.

Other equities research analysts have also recently issued reports about the stock. TD Cowen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. TD Securities raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Ero Copper presently has a consensus rating of “Buy” and a consensus target price of $26.33.

Ero Copper Price Performance

Shares of NYSE ERO opened at $9.92 on Friday. The company has a fifty day moving average price of $12.97 and a 200 day moving average price of $15.47. The firm has a market cap of $1.03 billion, a PE ratio of 58.32 and a beta of 1.10. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. Ero Copper has a 1-year low of $9.58 and a 1-year high of $24.34.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. The firm had revenue of $122.50 million for the quarter, compared to the consensus estimate of $183.26 million. Research analysts predict that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of institutional investors have recently modified their holdings of the business. Toronto Dominion Bank boosted its stake in shares of Ero Copper by 2,172.6% in the third quarter. Toronto Dominion Bank now owns 57,702 shares of the company’s stock valued at $1,285,000 after buying an additional 55,163 shares during the period. Jennison Associates LLC raised its holdings in Ero Copper by 3.5% in the 4th quarter. Jennison Associates LLC now owns 5,909,627 shares of the company’s stock valued at $79,645,000 after acquiring an additional 198,800 shares in the last quarter. Canoe Financial LP bought a new stake in shares of Ero Copper during the 4th quarter valued at $456,000. Montrusco Bolton Investments Inc. grew its holdings in shares of Ero Copper by 3.9% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company’s stock worth $10,448,000 after purchasing an additional 28,999 shares in the last quarter. Finally, Sprott Inc. grew its holdings in shares of Ero Copper by 42.2% during the 4th quarter. Sprott Inc. now owns 455,289 shares of the company’s stock worth $6,137,000 after purchasing an additional 135,049 shares in the last quarter. Institutional investors own 71.30% of the company’s stock.

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.