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

Shares of Ero Copper Corp. (NYSE:ERO) have received a consensus recommendation of “Buy” from the eight analysts that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $26.33.

A number of equities analysts recently commented on ERO shares. StockNews.com upgraded Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. The Goldman Sachs Group assumed coverage on Ero Copper in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price objective for the company.

Institutional Trading of Ero Copper

Several hedge funds and other institutional investors have recently bought and sold shares of ERO. Exchange Traded Concepts LLC acquired a new stake in shares of Ero Copper in the third quarter valued at approximately $38,000. Toronto Dominion Bank raised its holdings in Ero Copper by 38.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after acquiring an additional 709 shares in the last quarter. Chesapeake Capital Corp IL bought a new stake in shares of Ero Copper during the 2nd quarter valued at $351,000. Sentry Investment Management LLC bought a new stake in shares of Ero Copper during the 3rd quarter valued at $457,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ero Copper by 6.7% during the 3rd 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. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Stock Performance

Shares of ERO stock opened at $14.40 on Monday. The company has a fifty day moving average price of $14.84 and a two-hundred day moving average price of $18.48. Ero Copper has a one year low of $12.78 and a one year high of $24.34. The stock has a market cap of $1.49 billion, a P/E ratio of 84.71 and a beta of 1.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45.

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.