Ero Copper (NYSE:ERO) Stock Rating Upgraded by 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 on Saturday.

A number of other research firms have also weighed in on ERO. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. Bradesco Corretora raised Ero Copper to an “outperform” rating in a research note on Monday, July 20th. Jefferies Financial Group reissued a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and upped their price target for the stock from $30.00 to $34.00 in a research note on Thursday, July 16th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.33.

Ero Copper Trading Up 0.0%

Shares of Ero Copper stock opened at $34.32 on Friday. The company has a market capitalization of $3.58 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The company has a fifty day moving average of $27.42 and a 200 day moving average of $28.66. Ero Copper has a fifty-two week low of $13.37 and a fifty-two week high of $39.80.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $284.30 million during the quarter, compared to analyst estimates of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. On average, sell-side analysts anticipate that Ero Copper will post 4.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. FIL Ltd boosted its stake in Ero Copper by 74.1% during the fourth quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock valued at $330,161,000 after buying an additional 4,966,427 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in Ero Copper by 602.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company’s stock worth $47,767,000 after acquiring an additional 1,445,645 shares during the last quarter. Vanguard Group Inc. increased its stake in Ero Copper by 1,614.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company’s stock worth $29,056,000 after acquiring an additional 1,350,738 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Ero Copper by 4,913.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock worth $26,000,000 after acquiring an additional 955,487 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Ero Copper by 82.6% during the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock worth $29,919,000 after acquiring an additional 803,320 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

About Ero Copper

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.