Ero Copper (NYSE:ERO) Upgraded at Zacks Research

Zacks Research upgraded shares of Ero Copper (NYSE:ERO) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts also recently commented on the company. Stifel Canada upgraded Ero Copper to a “strong-buy” rating in a research note on Tuesday, July 8th. Raymond James Financial raised Ero Copper to a “moderate buy” rating in a report on Monday, June 30th. National Bankshares reiterated a “sector perform” rating on shares of Ero Copper in a report on Tuesday, August 5th. Scotiabank restated an “outperform” rating on shares of Ero Copper in a research note on Tuesday, July 8th. Finally, Stifel Nicolaus began coverage on Ero Copper in a research report on Wednesday, July 9th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Ero Copper Stock Performance

Shares of ERO stock opened at $20.90 on Tuesday. The company has a fifty day moving average price of $15.45 and a two-hundred day moving average price of $14.34. Ero Copper has a one year low of $9.30 and a one year high of $22.31. The stock has a market cap of $2.17 billion, a P/E ratio of 15.26 and a beta of 1.24. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80.

Ero Copper (NYSE:ERO) last issued its earnings results on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. The company had revenue of $163.50 million for the quarter, compared to analysts’ expectations of $263.23 million. As a group, equities analysts predict that Ero Copper will post 0.71 EPS for the current year.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds have recently made changes to their positions in the stock. GMT Capital Corp increased its position in Ero Copper by 22.9% during the 1st quarter. GMT Capital Corp now owns 6,931,025 shares of the company’s stock worth $83,938,000 after purchasing an additional 1,292,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Ero Copper by 119.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,628,030 shares of the company’s stock worth $27,515,000 after buying an additional 885,630 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Ero Copper by 82.6% in the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after acquiring an additional 803,320 shares during the last quarter. TD Asset Management Inc increased its holdings in Ero Copper by 234.1% in the 1st quarter. TD Asset Management Inc now owns 935,090 shares of the company’s stock worth $11,324,000 after purchasing an additional 655,232 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Ero Copper by 2,384.8% in the second quarter. Marshall Wace LLP now owns 609,621 shares of the company’s stock valued at $10,272,000 after purchasing an additional 585,087 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.