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

Ero Copper (NYSE:ERO) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

ERO has been the subject of several other reports. BMO Capital Markets reiterated an “outperform” rating on shares of Ero Copper in a research report on Friday, July 4th. National Bank Financial lowered shares of Ero Copper from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 9th. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research report on Tuesday, July 8th. Stifel Nicolaus initiated coverage on shares of Ero Copper in a research report on Wednesday, July 9th. They issued a “buy” rating for the company. Finally, Stifel Canada upgraded shares of Ero Copper to a “strong-buy” rating in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Ero Copper Stock Up 1.0%

ERO opened at $21.86 on Monday. The company has a fifty day moving average price of $15.91 and a 200-day moving average price of $14.51. The firm has a market capitalization of $2.26 billion, a P/E ratio of 15.95 and a beta of 1.24. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80. Ero Copper has a one year low of $9.30 and a one year high of $22.11.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. The firm had revenue of $163.50 million during the quarter, compared to analyst estimates of $263.23 million. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. Equities research analysts expect that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently added to or reduced their stakes in the stock. J. Safra Sarasin Holding AG lifted its position in shares of Ero Copper by 3.2% in the 1st quarter. J. Safra Sarasin Holding AG now owns 24,266 shares of the company’s stock worth $294,000 after purchasing an additional 753 shares during the period. PenderFund Capital Management Ltd. lifted its position in shares of Ero Copper by 0.7% in the 1st quarter. PenderFund Capital Management Ltd. now owns 123,492 shares of the company’s stock worth $1,497,000 after purchasing an additional 836 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Ero Copper by 2.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock worth $948,000 after purchasing an additional 1,152 shares during the period. Northwest & Ethical Investments L.P. lifted its position in Ero Copper by 22.6% during the first quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock valued at $97,000 after acquiring an additional 1,483 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Ero Copper by 3.4% during the second quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock valued at $936,000 after acquiring an additional 1,823 shares during the last quarter. Institutional investors own 71.30% of the company’s stock.

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.