Ero Copper (NYSE:ERO) Raised to Moderate Buy at Atb Cormark Cm

Ero Copper (NYSE:ERO) was upgraded by stock analysts at Atb Cormark Cm to a “moderate buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

ERO has been the topic of several other reports. Canaccord Genuity Group upgraded Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, January 14th. TD Cowen reaffirmed a “hold” rating on shares of Ero Copper in a research report on Tuesday, October 21st. Zacks Research upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. TD Securities downgraded Ero Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen cut shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Ero Copper presently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Ero Copper Stock Performance

Shares of NYSE:ERO opened at $30.64 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. Ero Copper has a 12 month low of $9.30 and a 12 month high of $39.80. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 23.04 and a beta of 1.20. The firm’s 50-day moving average is $29.12 and its 200 day moving average is $22.09.

Institutional Trading of Ero Copper

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kapitalo Investimentos Ltda lifted its holdings in Ero Copper by 86.0% during the third quarter. Kapitalo Investimentos Ltda now owns 1,076,696 shares of the company’s stock worth $21,782,000 after buying an additional 497,978 shares during the period. Frontier Capital Management Co. LLC raised its position in shares of Ero Copper by 21.5% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,354,239 shares of the company’s stock worth $22,819,000 after acquiring an additional 239,935 shares in the last quarter. Impala Asset Management LLC lifted its stake in shares of Ero Copper by 3.0% during the 2nd quarter. Impala Asset Management LLC now owns 1,699,100 shares of the company’s stock worth $28,494,000 after purchasing an additional 49,199 shares during the last quarter. Boston Partners boosted its position in Ero Copper by 37.5% during the second quarter. Boston Partners now owns 889,154 shares of the company’s stock valued at $14,979,000 after purchasing an additional 242,594 shares in the last quarter. Finally, Scotia Capital Inc. grew its stake in Ero Copper by 12.3% in the second quarter. Scotia Capital Inc. now owns 303,008 shares of the company’s stock valued at $5,039,000 after purchasing an additional 33,146 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors.

Ero Copper Company Profile

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.