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

Shares of Ero Copper Corp. (NYSE:ERO) have earned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $26.33.

ERO has been the subject of several analyst reports. TD Cowen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. TD Securities upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group initiated coverage on Ero Copper in a research note on Monday, December 2nd. They set a “buy” rating and a $19.00 price target for the company.

Institutional Investors Weigh In On Ero Copper

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in shares of Ero Copper by 3.1% in the third quarter. Van ECK Associates Corp now owns 136,990 shares of the company’s stock worth $3,051,000 after buying an additional 4,097 shares during the period. Intact Investment Management Inc. purchased a new stake in shares of Ero Copper in the third quarter worth about $670,000. Sentry Investment Management LLC purchased a new stake in shares of Ero Copper in the third quarter worth about $457,000. Old West Investment Management LLC boosted its position in shares of Ero Copper by 100.0% in the third quarter. Old West Investment Management LLC now owns 160,000 shares of the company’s stock worth $3,563,000 after buying an additional 80,000 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Ero Copper by 3.3% in the third quarter. CIBC Asset Management Inc now owns 117,832 shares of the company’s stock worth $2,624,000 after buying an additional 3,746 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Stock Performance

Ero Copper stock opened at $11.39 on Tuesday. The firm has a market capitalization of $1.18 billion, a P/E ratio of 67.00 and a beta of 1.14. The stock has a fifty day moving average price of $13.61 and a 200 day moving average price of $16.72. Ero Copper has a 52 week low of $11.34 and a 52 week high of $24.34. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71.

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.