Ero Copper (NYSE:ERO) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Ero Copper (NYSE:ERO) to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other research firms also recently commented on ERO. CIBC reaffirmed a “neutral” rating on shares of Ero Copper in a report on Friday, December 5th. Ventum Cap Mkts raised shares of Ero Copper to a “strong-buy” rating in a research report on Monday, November 3rd. TD Securities cut shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Wall Street Zen raised Ero Copper from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ero Copper in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ero Copper currently has a consensus rating of “Hold” and an average target price of $28.50.

Ero Copper Stock Performance

NYSE ERO opened at $28.32 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 21.29 and a beta of 1.22. The company’s fifty day moving average is $23.94 and its two-hundred day moving average is $19.12. Ero Copper has a 52-week low of $9.30 and a 52-week high of $29.03.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.09). Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. The firm had revenue of $177.10 million during the quarter, compared to analyst estimates of $309.30 million. Equities research analysts forecast that Ero Copper will post 0.71 EPS for the current year.

Institutional Trading of Ero Copper

A number of hedge funds and other institutional investors have recently made changes to their positions in ERO. Banque Cantonale Vaudoise acquired a new position in shares of Ero Copper during the third quarter worth approximately $111,000. Shay Capital LLC bought a new position in Ero Copper in the 3rd quarter worth approximately $202,000. Versor Investments LP bought a new position in Ero Copper in the 3rd quarter worth approximately $217,000. Jain Global LLC acquired a new position in Ero Copper during the 3rd quarter worth $239,000. Finally, Olympiad Research LP bought a new position in Ero Copper in the 3rd quarter valued at $248,000. 71.30% of the stock is currently owned by institutional investors and hedge funds.

About Ero Copper

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.