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

StockNews.com upgraded shares of Ero Copper (NYSE:ERO) from a sell rating to a hold rating in a research note released on Friday.

A number of other research analysts also recently issued reports on the company. Jefferies Financial Group raised Ero Copper from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Ventum Cap Mkts upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Bank of America started coverage on shares of Ero Copper in a research report on Tuesday, September 3rd. They set a “buy” rating and a $28.00 price target on the stock. Finally, Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $30.00.

Ero Copper Trading Down 0.6 %

Shares of Ero Copper stock opened at $19.39 on Friday. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.34. The firm’s 50 day simple moving average is $20.60 and its two-hundred day simple moving average is $20.68. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -102.05 and a beta of 1.20.

Ero Copper (NYSE:ERO) last released its earnings results on Thursday, August 1st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. The firm had revenue of $117.10 million during the quarter. During the same period last year, the firm earned $0.24 EPS. Analysts predict that Ero Copper will post 1.16 EPS for the current year.

Institutional Investors Weigh In On Ero Copper

Several institutional investors and hedge funds have recently modified their holdings of the company. Toronto Dominion Bank grew its stake in shares of Ero Copper by 38.7% in the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after acquiring an additional 709 shares in the last quarter. National Bank of Canada FI increased its holdings in Ero Copper by 1.4% during the 2nd quarter. National Bank of Canada FI now owns 58,271 shares of the company’s stock worth $1,238,000 after purchasing an additional 793 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Ero Copper by 6.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after purchasing an additional 1,277 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Ero Copper in the 3rd quarter valued at about $38,000. Finally, Platinum Investment Management Ltd. boosted its stake in shares of Ero Copper by 15.9% in the 1st quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock valued at $362,000 after buying an additional 2,564 shares during the period. Hedge funds and other 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.