Ero Copper (NYSE:ERO) Upgraded at Wall Street Zen

Ero Copper (NYSE:ERO) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

ERO has been the topic of a number of other reports. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Ero Copper in a research report on Friday, December 5th. Freedom Capital raised shares of Ero Copper to a “strong-buy” rating in a research report on Tuesday, December 30th. Canaccord Genuity Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, January 14th. The Goldman Sachs Group increased their target price on Ero Copper from $25.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Finally, Jefferies Financial Group cut Ero Copper from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Ero Copper Stock Performance

Shares of ERO opened at $27.71 on Friday. The stock has a 50-day simple moving average of $31.33 and a 200-day simple moving average of $24.45. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. The stock has a market capitalization of $2.89 billion, a PE ratio of 10.91 and a beta of 1.17. Ero Copper has a 1 year low of $9.30 and a 1 year high of $39.80.

Ero Copper (NYSE:ERO) last released its earnings results on Thursday, March 5th. The company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The firm had revenue of $320.20 million for the quarter, compared to analysts’ expectations of $430.46 million. Ero Copper had a return on equity of 27.09% and a net margin of 33.56%. On average, analysts predict that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Institutional Trading of Ero Copper

A number of large investors have recently bought and sold shares of ERO. Caitong International Asset Management Co. Ltd purchased a new position in Ero Copper during the 4th quarter worth $38,000. Invesco Ltd. raised its holdings in shares of Ero Copper by 10.7% in the fourth quarter. Invesco Ltd. now owns 2,827,385 shares of the company’s stock valued at $79,987,000 after buying an additional 273,470 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Ero Copper in the fourth quarter valued at about $246,000. Beacon Pointe Advisors LLC acquired a new stake in shares of Ero Copper during the fourth quarter worth about $314,000. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of Ero Copper during the fourth quarter worth about $221,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.