Ero Copper (NYSE:ERO) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Ero Copper (NYSE:ERO) from a hold rating to a buy rating in a report issued on Wednesday.

Other equities analysts have also issued reports about the stock. Desjardins started coverage on shares of Ero Copper in a research report on Friday, April 4th. They set a “hold” rating on the stock. BMO Capital Markets began coverage on Ero Copper in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. National Bankshares upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday. Raymond James reiterated an “outperform” rating on shares of Ero Copper in a report on Friday, April 4th. Finally, TD Cowen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $26.33.

Ero Copper Trading Down 5.5 %

Ero Copper stock opened at $13.38 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.39 billion, a PE ratio of 78.69 and a beta of 1.10. The stock’s 50 day simple moving average is $12.04 and its two-hundred day simple moving average is $13.87. Ero Copper has a 12 month low of $9.30 and a 12 month high of $24.34.

Ero Copper (NYSE:ERO) last posted its earnings results on Monday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.18. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The business had revenue of $125.10 million for the quarter, compared to analyst estimates of $179.45 million. Analysts anticipate that Ero Copper will post 0.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ERO. Acuitas Investments LLC purchased a new stake in shares of Ero Copper during the 1st quarter worth approximately $39,000. State of Wyoming purchased a new stake in Ero Copper in the 4th quarter valued at $76,000. Synergy Asset Management LLC purchased a new position in Ero Copper during the 4th quarter worth $78,000. Northwest & Ethical Investments L.P. grew its stake in shares of Ero Copper by 19.1% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company’s stock worth $88,000 after purchasing an additional 1,050 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Ero Copper in the fourth quarter valued at about $125,000. 71.30% of the stock is owned by institutional investors and hedge funds.

About Ero Copper

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.