Ero Copper (NYSE:ERO) Upgraded to “Outperform” at Raymond James

Raymond James upgraded shares of Ero Copper (NYSE:ERO) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports.

ERO has been the subject of a number of other research reports. Scotiabank upgraded Ero Copper from a sector perform rating to a sector outperform rating in a research report on Thursday, May 30th. BMO Capital Markets upgraded shares of Ero Copper from a market perform rating to an outperform rating in a report on Wednesday, June 26th. Ventum Cap Mkts upgraded shares of Ero Copper from a hold rating to a strong-buy rating in a report on Monday, July 22nd. Jefferies Financial Group raised Ero Copper from a hold rating to a buy rating in a research report on Monday, August 5th. Finally, StockNews.com downgraded shares of Ero Copper from a hold rating to a sell rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $30.00.

Ero Copper Stock Down 6.4 %

Shares of ERO stock opened at $19.23 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60. The stock has a fifty day moving average price of $20.46 and a 200 day moving average price of $20.05. Ero Copper has a one year low of $11.35 and a one year high of $24.34. The stock has a market cap of $1.98 billion, a P/E ratio of 29.58 and a beta of 1.19.

Ero Copper (NYSE:ERO) last issued its earnings results on Thursday, August 1st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $117.10 million for the quarter. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. During the same quarter in the prior year, the firm posted $0.24 EPS. Analysts predict that Ero Copper will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently bought and sold shares of ERO. Jennison Associates LLC grew its stake in Ero Copper by 39.0% during the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock worth $77,117,000 after buying an additional 1,121,095 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in shares of Ero Copper by 31.7% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock worth $13,435,000 after acquiring an additional 203,613 shares during the period. Fiera Capital Corp boosted its position in shares of Ero Copper by 24.1% during the 4th quarter. Fiera Capital Corp now owns 785,104 shares of the company’s stock worth $12,454,000 after acquiring an additional 152,245 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Ero Copper by 4.1% during the first quarter. Russell Investments Group Ltd. now owns 783,756 shares of the company’s stock worth $15,111,000 after purchasing an additional 30,665 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Ero Copper by 226.9% in the 1st quarter. Boston Partners now owns 726,068 shares of the company’s stock valued at $14,010,000 after purchasing an additional 503,972 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

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.