Ero Copper Corp. (NYSE:ERO) Given Average Rating of “Buy” by Analysts

Shares of Ero Copper Corp. (NYSE:ERO) have earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $26.33.

ERO has been the topic of a number of recent research reports. The Goldman Sachs Group started coverage on Ero Copper in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 target price on the stock. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th.

Hedge Funds Weigh In On Ero Copper

Hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC purchased a new stake in shares of Ero Copper in the third quarter valued at approximately $38,000. Synergy Asset Management LLC acquired a new position in Ero Copper during the fourth quarter worth $78,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Ero Copper during the fourth quarter valued at $125,000. Sentry Investment Management LLC acquired a new stake in shares of Ero Copper in the third quarter valued at about $457,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 purchasing an additional 1,475 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Trading Up 3.9 %

NYSE ERO opened at $13.84 on Friday. Ero Copper has a 12-month low of $12.78 and a 12-month high of $24.34. The company has a fifty day simple moving average of $14.03 and a two-hundred day simple moving average of $17.53. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.43 billion, a P/E ratio of 81.38 and a beta of 1.14.

Ero Copper (NYSE:ERO) last issued its earnings results on Tuesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. The company had revenue of $124.80 million during the quarter, compared to analyst estimates of $148.80 million. During the same quarter last year, the business posted $0.18 EPS. On average, analysts forecast that Ero Copper will post 0.92 earnings per share for the current year.

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.