Ero Copper (NYSE:ERO) Now Covered by Analysts at StockNews.com

Posted by on May 18th, 2023

Analysts at StockNews.com assumed coverage on shares of Ero Copper (NYSE:ERO – Get Rating) in a report issued on Thursday. The firm set a “hold” rating on the stock.

Separately, National Bank Financial increased their price objective on Ero Copper from C$21.00 to C$22.00 in a report on Monday, February 13th.

Ero Copper Stock Performance

NYSE:ERO opened at $18.59 on Thursday. The stock has a market cap of $1.72 billion, a P/E ratio of 23.24 and a beta of 0.99. The firm’s fifty day simple moving average is $18.16 and its 200 day simple moving average is $15.64. Ero Copper has a twelve month low of $8.07 and a twelve month high of $20.99. The company has a quick ratio of 2.80, a current ratio of 3.04 and a debt-to-equity ratio of 0.75.

Ero Copper (NYSE:ERO – Get Rating) last issued its quarterly earnings data on Tuesday, March 7th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). Ero Copper had a return on equity of 14.30% and a net margin of 17.65%. The company had revenue of $116.70 million during the quarter, compared to analysts’ expectations of $103.00 million. As a group, research analysts predict that Ero Copper will post 1.35 EPS for the current year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently bought and sold shares of ERO. Scotia Capital Inc. grew its holdings in shares of Ero Copper by 0.5% during the fourth quarter. Scotia Capital Inc. now owns 152,844 shares of the company’s stock valued at $2,094,000 after buying an additional 753 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Ero Copper by 2.5% during the 1st quarter. Mackenzie Financial Corp now owns 33,690 shares of the company’s stock valued at $596,000 after purchasing an additional 827 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of Ero Copper in the 1st quarter worth $26,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Ero Copper by 5.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,017 shares of the company’s stock worth $455,000 after purchasing an additional 1,810 shares during the last quarter. Finally, Credit Suisse AG lifted its holdings in shares of Ero Copper by 4.9% during the first quarter. Credit Suisse AG now owns 67,455 shares of the company’s stock valued at $1,613,000 after purchasing an additional 3,152 shares in the last quarter. Institutional investors own 47.09% of the company’s stock.

About Ero Copper

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Ero Copper Corp. engages in the exploration, development, and mining of mineral properties in Brazil. It also produces and sells copper, gold, silver products. The company was founded on May 16, 2016 and is headquartered in Vancouver, Canada.

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