Ero Copper (NYSE:ERO) Rating Increased to Hold at StockNews.com

Ero Copper (NYSE:ERO) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Several other equities analysts have also weighed in on the company. Pi Financial upgraded Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. Ventum Cap Mkts lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 28th. Scotiabank upgraded Ero Copper from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 30th. BMO Capital Markets upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group assumed coverage on Ero Copper in a research note on Friday, May 3rd. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $22.82 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Ero Copper has a 1 year low of $11.35 and a 1 year high of $24.38. The business has a fifty day simple moving average of $21.54 and a 200 day simple moving average of $18.88. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 35.14 and a beta of 1.19.

Ero Copper (NYSE:ERO) last posted its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.11. Ero Copper had a return on equity of 10.68% and a net margin of 14.23%. The company had revenue of $105.80 million for the quarter, compared to analyst estimates of $104.40 million. As a group, sell-side analysts predict that Ero Copper will post 1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Institutional investors have recently added to or reduced their stakes in the company. Acuitas Investments LLC grew its position in Ero Copper by 61.5% during the fourth quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock worth $33,000 after buying an additional 800 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Ero Copper during the fourth quarter worth about $79,000. Platinum Investment Management Ltd. acquired a new stake in Ero Copper during the fourth quarter valued at approximately $257,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ero Copper by 21.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,656 shares of the company’s stock valued at $328,000 after purchasing an additional 3,632 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Ero Copper during the fourth quarter valued at approximately $356,000. 71.30% of the stock is owned by institutional investors and hedge funds.

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.