Jefferies Financial Group Initiates Coverage on Ero Copper (NYSE:ERO)

Jefferies Financial Group began coverage on shares of Ero Copper (NYSE:ERO) in a research note published on Friday morning, Marketbeat reports. The brokerage issued a hold rating on the stock.

A number of other equities analysts have also commented on the stock. TheStreet upgraded shares of Ero Copper from a c rating to a b- rating in a report on Friday, March 8th. Pi Financial raised shares of Ero Copper from a neutral rating to a buy rating in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $24.00.

Ero Copper Trading Up 1.7 %

NYSE ERO opened at $21.17 on Friday. The company’s 50 day moving average price is $19.26 and its 200 day moving average price is $16.21. Ero Copper has a one year low of $11.35 and a one year high of $24.38. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.94 and a current ratio of 1.23. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 21.60 and a beta of 1.21.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. The company had revenue of $116.41 million during the quarter, compared to analysts’ expectations of $104.20 million. During the same period last year, the business earned $0.24 earnings per share. On average, sell-side analysts predict that Ero Copper will post 1.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Ero Copper by 3.7% during the third quarter. FMR LLC now owns 10,719,365 shares of the company’s stock valued at $184,832,000 after buying an additional 379,686 shares during the last quarter. Jennison Associates LLC boosted its position in Ero Copper by 39.0% during the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock worth $77,117,000 after acquiring an additional 1,121,095 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ero Copper by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock worth $35,715,000 after purchasing an additional 461,998 shares in the last quarter. Impala Asset Management LLC increased its holdings in shares of Ero Copper by 23.1% during the third quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after purchasing an additional 344,410 shares during the period. Finally, Montrusco Bolton Investments Inc. raised its stake in shares of Ero Copper by 31.7% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock valued at $13,435,000 after purchasing an additional 203,613 shares in the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

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.