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

Wall Street Zen upgraded shares of Ero Copper (NYSE:ERO) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Other equities research analysts also recently issued reports about the company. Stifel Canada downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Scotiabank upgraded shares of Ero Copper from a “hold” rating to an “outperform” rating in a research report on Thursday. TD Securities downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Tuesday, October 21st. Ventum Cap Mkts upgraded shares of Ero Copper to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, Canaccord Genuity Group downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ero Copper has an average rating of “Hold” and an average price target of $25.00.

Ero Copper Stock Performance

NYSE ERO opened at $21.63 on Friday. The business’s 50-day moving average price is $19.50 and its 200 day moving average price is $16.20. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. The firm has a market cap of $2.24 billion, a P/E ratio of 15.79 and a beta of 1.25. Ero Copper has a 52-week low of $9.30 and a 52-week high of $24.48.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The company had revenue of $177.10 million for the quarter, compared to analyst estimates of $309.30 million. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%. On average, equities research analysts expect that Ero Copper will post 0.71 earnings per share for the current year.

Institutional Trading of Ero Copper

A number of institutional investors have recently added to or reduced their stakes in ERO. GMT Capital Corp increased its holdings in Ero Copper by 7.7% in the second quarter. GMT Capital Corp now owns 7,467,055 shares of the company’s stock valued at $125,865,000 after buying an additional 536,030 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Ero Copper by 5.0% in the 2nd quarter. Jennison Associates LLC now owns 5,487,290 shares of the company’s stock worth $92,651,000 after acquiring an additional 259,830 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ero Copper by 2.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,607,517 shares of the company’s stock valued at $43,689,000 after purchasing an additional 80,359 shares in the last quarter. Bank of America Corp DE raised its holdings in Ero Copper by 82.6% during the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock worth $29,919,000 after purchasing an additional 803,320 shares during the last quarter. Finally, Impala Asset Management LLC boosted its position in Ero Copper by 3.0% during the second 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 in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Company Profile

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.