Ero Copper (NYSE:ERO) Raised to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Ero Copper (NYSE:ERO) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

A number of other equities analysts have also recently issued reports on the stock. TD Cowen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. National Bank Financial upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. National Bankshares upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 6th. Desjardins initiated coverage on shares of Ero Copper in a research report on Friday, April 4th. They issued a “hold” rating on the stock. Finally, Raymond James restated an “outperform” rating on shares of Ero Copper in a research report on Friday, April 4th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $26.33.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $14.31 on Friday. The stock has a market cap of $1.48 billion, a PE ratio of 84.19 and a beta of 1.10. The company’s fifty day moving average is $12.33 and its 200 day moving average is $13.40. Ero Copper has a 52 week low of $9.30 and a 52 week high of $23.53. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Monday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.18. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The firm had revenue of $125.10 million for the quarter, compared to analysts’ expectations of $179.45 million. Research analysts anticipate that Ero Copper will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On Ero Copper

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC purchased a new position in shares of Ero Copper during the first quarter valued at about $356,000. Goldman Sachs Group Inc. increased its position in shares of 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. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ero Copper during the first quarter valued at about $217,000. Temasek Holdings Private Ltd boosted its stake in Ero Copper by 8.5% during the first quarter. Temasek Holdings Private Ltd now owns 643,221 shares of the company’s stock worth $7,796,000 after acquiring an additional 50,400 shares in the last quarter. Finally, PenderFund Capital Management Ltd. boosted its stake in Ero Copper by 0.7% during the first quarter. PenderFund Capital Management Ltd. now owns 123,492 shares of the company’s stock worth $1,497,000 after acquiring an additional 836 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.