Ero Copper Corp. (NYSE:ERO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Ero Copper Corp. (NYSE:EROGet Free Report) have been given a consensus rating of “Hold” by the five ratings firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $24.00.

A number of research firms have recently commented on ERO. Jefferies Financial Group initiated coverage on Ero Copper in a research report on Friday, May 3rd. They set a “hold” rating on the stock. TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a research report on Friday, March 8th. Scotiabank upgraded Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 30th. Ventum Cap Mkts lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 28th. Finally, Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a research report on Thursday, April 18th.

View Our Latest Report on Ero Copper

Ero Copper Stock Performance

NYSE ERO opened at $21.62 on Thursday. The firm has a market capitalization of $2.23 billion, a P/E ratio of 33.26 and a beta of 1.20. The stock has a 50-day simple moving average of $21.00 and a two-hundred day simple moving average of $18.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. Ero Copper has a fifty-two week low of $11.35 and a fifty-two week high of $24.38.

Ero Copper (NYSE:EROGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.11. Ero Copper had a net margin of 14.23% and a return on equity of 10.68%. The firm had revenue of $105.80 million during the quarter, compared to analyst estimates of $104.40 million. On average, equities analysts forecast that Ero Copper will post 1.7 earnings per share for the current year.

Hedge Funds Weigh In On Ero Copper

Several hedge funds and other institutional investors have recently modified their holdings of the business. Platinum Investment Management Ltd. purchased a new position in Ero Copper during the fourth quarter worth approximately $257,000. Kapitalo Investimentos Ltda purchased a new position in shares of Ero Copper during the 4th quarter worth $5,763,000. TD Asset Management Inc grew its holdings in shares of Ero Copper by 48.7% in the fourth quarter. TD Asset Management Inc now owns 595,283 shares of the company’s stock valued at $9,458,000 after purchasing an additional 194,976 shares during the period. Montrusco Bolton Investments Inc. increased its position in Ero Copper by 31.7% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock worth $13,435,000 after purchasing an additional 203,613 shares during the last quarter. Finally, Timelo Investment Management Inc. purchased a new position in Ero Copper during the fourth quarter worth about $987,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

About Ero Copper

(Get Free Report

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.

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Analyst Recommendations for Ero Copper (NYSE:ERO)

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