Ero Copper (NYSE:ERO) Rating Increased to Strong-Buy at Wall Street Zen

Ero Copper (NYSE:ERO) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Other analysts have also issued research reports about the stock. Desjardins began coverage on shares of Ero Copper in a report on Friday, April 4th. They issued a “hold” rating for the company. TD Securities reissued a “buy” rating on shares of Ero Copper in a research note on Wednesday, May 7th. National Bankshares upgraded Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 6th. Raymond James reiterated an “outperform” rating on shares of Ero Copper in a report on Friday, April 4th. Finally, National Bank Financial upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $26.33.

Ero Copper Stock Performance

Shares of NYSE:ERO opened at $14.31 on Friday. The business has a fifty day moving average of $12.33 and a 200-day moving average of $13.42. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. Ero Copper has a twelve month low of $9.30 and a twelve month high of $23.53. The firm has a market cap of $1.48 billion, a PE ratio of 84.19 and a beta of 1.10.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.18. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The firm had revenue of $125.10 million for the quarter, compared to analyst estimates of $179.45 million. On average, equities research analysts predict that Ero Copper will post 0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new stake in shares of Ero Copper in the 1st quarter valued at about $356,000. Goldman Sachs Group Inc. grew its holdings in Ero Copper by 82.0% during the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock valued at $3,340,000 after purchasing an additional 124,179 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Ero Copper in the first quarter valued at approximately $217,000. Temasek Holdings Private Ltd increased its stake in Ero Copper by 8.5% in the first quarter. Temasek Holdings Private Ltd now owns 643,221 shares of the company’s stock valued at $7,796,000 after purchasing an additional 50,400 shares in the last quarter. Finally, PenderFund Capital Management Ltd. raised its holdings in Ero Copper by 0.7% in the first quarter. PenderFund Capital Management Ltd. now owns 123,492 shares of the company’s stock worth $1,497,000 after purchasing an additional 836 shares during the period. 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.