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

Ero Copper Corp. (NYSE:ERO) has received an average recommendation of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $26.33.

Several brokerages recently weighed in on ERO. Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group started coverage on Ero Copper in a report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price target on the stock. Bank of America started coverage on Ero Copper in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 target price on the stock. Finally, StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Toronto Dominion Bank grew its position in Ero Copper by 38.7% during the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after purchasing an additional 709 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Ero Copper by 1.4% during the 2nd quarter. National Bank of Canada FI now owns 58,271 shares of the company’s stock valued at $1,238,000 after buying an additional 793 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ero Copper by 6.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock worth $469,000 after purchasing an additional 1,277 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Ero Copper during the 3rd quarter valued at $38,000. Finally, Pinpoint Asset Management Ltd raised its stake in shares of Ero Copper by 7.2% in the third quarter. Pinpoint Asset Management Ltd now owns 42,372 shares of the company’s stock worth $944,000 after buying an additional 2,856 shares during the period. 71.30% of the stock is currently owned by institutional investors.

Ero Copper Stock Performance

ERO stock opened at $14.50 on Thursday. Ero Copper has a 12-month low of $13.22 and a 12-month high of $24.34. The firm has a market cap of $1.50 billion, a PE ratio of 85.29 and a beta of 1.12. The business has a 50 day moving average of $17.60 and a 200-day moving average of $19.55. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71.

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.