Zacks Research Upgrades Ero Copper (NYSE:ERO) to “Strong-Buy”

Ero Copper (NYSE:ERO) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

ERO has been the subject of several other research reports. TD Securities cut Ero Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Scotiabank raised shares of Ero Copper from a “hold” rating to an “outperform” rating in a report on Thursday, November 6th. Stifel Canada lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Ventum Cap Mkts raised shares of Ero Copper to a “strong-buy” rating in a research note on Monday, November 3rd. Finally, The Goldman Sachs Group increased their target price on shares of Ero Copper from $18.50 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Ero Copper has a consensus rating of “Moderate Buy” and an average price target of $28.50.

Ero Copper Trading Down 5.4%

Shares of NYSE:ERO opened at $28.86 on Tuesday. The company has a 50 day moving average of $24.64 and a 200-day moving average of $19.54. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The firm has a market cap of $3.00 billion, a P/E ratio of 21.70 and a beta of 1.22. Ero Copper has a twelve month low of $9.30 and a twelve month high of $31.36.

Ero Copper (NYSE:ERO) last announced its 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). The firm had revenue of $177.10 million for the quarter, compared to the consensus estimate of $309.30 million. Ero Copper had a return on equity of 17.07% and a net margin of 23.44%. As a group, analysts anticipate that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Ero Copper by 2.3% in the 1st quarter. Royal Bank of Canada now owns 188,384 shares of the company’s stock worth $2,283,000 after purchasing an additional 4,325 shares during the period. Amundi boosted its position in shares of Ero Copper by 6.7% in the first quarter. Amundi now owns 617,803 shares of the company’s stock worth $6,950,000 after buying an additional 38,923 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ero Copper during the first quarter valued at $217,000. Goldman Sachs Group Inc. raised its position in Ero Copper by 82.0% during the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock valued at $3,340,000 after buying an additional 124,179 shares during the period. Finally, Empowered Funds LLC purchased a new stake in Ero Copper in the 1st quarter worth about $356,000. 71.30% of the stock is owned by hedge funds and other 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.