Ero Copper (NYSE:ERO) Now Covered by Analysts at Desjardins

Desjardins started coverage on shares of Ero Copper (NYSE:ERO - Free Report) in a research note published on Friday morning, MarketBeat Ratings reports. The brokerage issued a hold rating on the stock.

Several other equities research analysts have also recently weighed in on ERO. TD Cowen upgraded shares of Ero Copper from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. TD Securities upgraded shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Ero Copper currently has an average rating of "Buy" and an average target price of $26.33.

Ero Copper Price Performance

Shares of NYSE:ERO traded up $0.51 during midday trading on Friday, reaching $10.16. 326,016 shares of the company were exchanged, compared to its average volume of 393,203. 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 $1.05 billion, a PE ratio of 59.58 and a beta of 1.10. The business's fifty day moving average is $12.75 and its two-hundred day moving average is $15.23. Ero Copper has a one year low of $9.30 and a one year high of $24.34.

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Ero Copper (NYSE:ERO - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.04). Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The firm had revenue of $122.50 million for the quarter, compared to analysts' expectations of $183.26 million. As a group, analysts predict that Ero Copper will post 0.71 earnings per share for the current year.

Institutional Trading of Ero Copper

Hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank grew its holdings in shares of Ero Copper by 2,172.6% in the third quarter. Toronto Dominion Bank now owns 57,702 shares of the company's stock worth $1,285,000 after purchasing an additional 55,163 shares during the last quarter. Jennison Associates LLC boosted its position in Ero Copper by 3.5% in the 4th quarter. Jennison Associates LLC now owns 5,909,627 shares of the company's stock valued at $79,645,000 after buying an additional 198,800 shares during the period. Raymond James Financial Inc. bought a new position in Ero Copper in the 4th quarter worth about $991,000. Canoe Financial LP purchased a new position in shares of Ero Copper during the fourth quarter worth approximately $456,000. Finally, Montrusco Bolton Investments Inc. raised its stake in shares of Ero Copper by 3.9% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company's stock valued at $10,448,000 after acquiring an additional 28,999 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company's stock.

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.