Ero Copper (NYSE:ERO) Upgraded by Pi Financial to “Buy”

Ero Copper (NYSE:ERO) was upgraded by investment analysts at Pi Financial from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports.

Separately, TheStreet upgraded shares of Ero Copper from a “c” rating to a “b-” rating in a research report on Friday, March 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.00.

Ero Copper Stock Down 0.8 %

ERO stock opened at $20.14 on Thursday. Ero Copper has a 12 month low of $11.35 and a 12 month high of $24.38. The company’s 50 day simple moving average is $18.28 and its 200-day simple moving average is $15.84. The firm has a market capitalization of $2.07 billion, a PE ratio of 20.55 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.23 and a quick ratio of 0.94.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, March 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. The firm had revenue of $116.41 million for the quarter, compared to analyst estimates of $104.20 million. During the same quarter last year, the business posted $0.24 EPS. Equities analysts expect that Ero Copper will post 1.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently made changes to their positions in the stock. UBS Group AG lifted its holdings in shares of Ero Copper by 103.1% during the 4th quarter. UBS Group AG now owns 11,777 shares of the company’s stock valued at $162,000 after acquiring an additional 5,979 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Ero Copper by 77.3% during the 4th quarter. Bank of America Corp DE now owns 10,854 shares of the company’s stock valued at $149,000 after acquiring an additional 4,732 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Ero Copper during the 4th quarter valued at $3,677,000. Credit Suisse AG lifted its holdings in shares of Ero Copper by 11.6% during the 4th quarter. Credit Suisse AG now owns 64,303 shares of the company’s stock valued at $1,199,000 after acquiring an additional 6,676 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Ero Copper by 2.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 392,139 shares of the company’s stock valued at $5,395,000 after acquiring an additional 8,880 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.