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

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

ERO has been the subject of several other research reports. Scotiabank upgraded Ero Copper from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, November 3rd. TD Securities reaffirmed a “hold” rating on shares of Ero Copper in a research report on Friday, August 7th. Bradesco Corretora cut Ero Copper from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 2nd. Freedom Broker cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Ero Copper in a research note on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.33.

Ero Copper Price Performance

ERO stock opened at $28.83 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The company’s 50-day moving average is $34.47 and its 200-day moving average is $30.67. The stock has a market capitalization of $3.01 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 0.26 and a beta of 1.32. Ero Copper has a 1 year low of $20.61 and a 1 year high of $40.83.

Ero Copper (NYSE:ERO) last issued its earnings results on Monday, November 2nd. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.17. The business had revenue of $348.00 million during the quarter, compared to analyst estimates of $342.91 million. Ero Copper had a return on equity of 38.98% and a net margin of 32.21%. Equities research analysts expect that Ero Copper will post 3.91 EPS for the current fiscal year.

Institutional Trading of Ero Copper

A number of hedge funds and other institutional investors have recently bought and sold shares of ERO. Hilton Head Capital Partners LLC boosted its holdings in Ero Copper by 250.0% in the 3rd quarter. Hilton Head Capital Partners LLC now owns 700 shares of the company’s stock valued at $26,000 after purchasing an additional 500 shares during the period. Hughes Financial Services LLC purchased a new position in shares of Ero Copper during the 3rd quarter valued at $52,000. PenderFund Capital Management Ltd. bought a new position in shares of Ero Copper in the second quarter worth $39,000. XML Financial LLC bought a new position in shares of Ero Copper in the third quarter worth $209,000. Finally, Kercheville Advisors LLC bought a new position in shares of Ero Copper in the third quarter worth $295,000. Institutional investors own 71.30% of the company’s stock.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company’s principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.