Ero Copper (NYSE:ERO) Stock Lifted to Buy by Wall Street Zen

Wall Street Zen upgraded shares of Ero Copper (NYSE:ERO) from a hold rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

Several other research firms have also recently weighed in on ERO. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. Zacks Research raised Ero Copper from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 15th. Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Ero Copper in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Ero Copper Trading Up 2.0%

Shares of Ero Copper stock opened at $37.87 on Friday. Ero Copper has a 12-month low of $18.02 and a 12-month high of $40.83. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.30 and a beta of 1.27. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $33.48 and its 200-day moving average price is $29.60.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $284.30 million during the quarter, compared to analyst estimates of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. On average, equities analysts expect that Ero Copper will post 4.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

Several institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. raised its holdings in shares of Ero Copper by 602.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company’s stock valued at $47,767,000 after buying an additional 1,445,645 shares in the last quarter. Impala Asset Management LLC purchased a new stake in Ero Copper in the second quarter worth approximately $31,201,000. Kapitalo Investimentos Ltda bought a new position in Ero Copper during the second quarter valued at approximately $28,802,000. Arrowstreet Capital Limited Partnership grew its position in Ero Copper by 4,913.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock valued at $26,000,000 after acquiring an additional 955,487 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Ero Copper during the second quarter worth approximately $25,121,000. 71.30% of the stock is currently owned by institutional investors.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper and associated mineral products. The company’s operations are located in Brazil, where it produces copper concentrate and may recover gold and other byproducts from its mineral deposits.

Ero Copper’s principal assets include the Caraíba Operations in the state of Bahia and the Tucumã Project in the state of Pará. Caraíba is an established copper mining complex that includes underground and open-pit mines, processing facilities and related infrastructure.