Ero Copper (NYSE:ERO) Upgraded at StockNews.com

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

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

Ero Copper Price Performance

Shares of NYSE ERO traded down $0.85 during trading on Thursday, hitting $21.94. The company had a trading volume of 261,761 shares, compared to its average volume of 349,131. Ero Copper has a 52 week low of $11.35 and a 52 week high of $24.38. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. The company has a market cap of $2.26 billion, a P/E ratio of 33.75 and a beta of 1.19. The business’s 50-day moving average is $21.51 and its 200 day moving average is $18.86.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. The firm had revenue of $105.80 million during the quarter, compared to analysts’ expectations of $104.40 million. Ero Copper had a net margin of 14.23% and a return on equity of 10.68%. Equities research analysts predict that Ero Copper will post 1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of institutional investors have recently modified their holdings of ERO. Platinum Investment Management Ltd. bought a new stake in shares of Ero Copper in the 4th quarter worth $257,000. Kapitalo Investimentos Ltda purchased a new position in shares of Ero Copper in the fourth quarter worth about $5,763,000. TD Asset Management Inc increased its stake in shares of Ero Copper by 48.7% in the fourth quarter. TD Asset Management Inc now owns 595,283 shares of the company’s stock worth $9,458,000 after purchasing an additional 194,976 shares in the last quarter. Montrusco Bolton Investments Inc. grew its stake in Ero Copper by 31.7% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock valued at $13,435,000 after acquiring an additional 203,613 shares in the last quarter. Finally, Timelo Investment Management Inc. purchased a new position in Ero Copper during the fourth quarter valued at approximately $987,000. 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.