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

Shares of Ero Copper Corp. (NYSE:ERO) have received an average rating of “Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $26.33.

A number of research analysts have weighed in on ERO shares. The Goldman Sachs Group initiated coverage on shares of Ero Copper in a research note on Monday, December 2nd. They issued a “buy” rating and a $19.00 target price on the stock. StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in Ero Copper by 32.9% in the second quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock valued at $9,922,000 after buying an additional 115,002 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Ero Copper in the 3rd quarter worth approximately $38,000. Van ECK Associates Corp boosted its position in shares of Ero Copper by 3.1% during the 3rd quarter. Van ECK Associates Corp now owns 136,990 shares of the company’s stock worth $3,051,000 after purchasing an additional 4,097 shares during the period. Intact Investment Management Inc. acquired a new stake in Ero Copper in the 3rd quarter valued at approximately $670,000. Finally, Sentry Investment Management LLC acquired a new position in Ero Copper during the third quarter worth $457,000. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Stock Up 3.9 %

NYSE ERO opened at $13.84 on Friday. Ero Copper has a one year low of $12.78 and a one year high of $24.34. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. The business has a fifty day moving average price of $14.03 and a 200 day moving average price of $17.53. The company 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 posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The firm had revenue of $124.80 million for the quarter, compared to the consensus estimate of $148.80 million. During the same period last year, the firm posted $0.18 earnings per share. Research analysts anticipate that Ero Copper will post 0.92 EPS for the current fiscal 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.