Ero Copper (NYSE:ERO) Upgraded at Wall Street Zen

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

ERO has been the subject of a number of other research reports. Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. TD Securities restated a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Zacks Research upgraded Ero Copper from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 15th. Bradesco Corretora lowered Ero Copper from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 2nd. Finally, Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Ero Copper Stock Performance

NYSE:ERO opened at $37.44 on Friday. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.30 and a beta of 1.27. Ero Copper has a 1 year low of $18.81 and a 1 year high of $40.83. The stock’s 50 day simple moving average is $33.73 and its two-hundred day simple moving average is $29.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81.

Ero Copper (NYSE:ERO) last announced its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. The firm had revenue of $284.30 million for the quarter, compared to analysts’ expectations of $277.64 million. As a group, equities analysts anticipate that Ero Copper will post 4.28 earnings per share for the current fiscal year.

Institutional Trading of Ero Copper

Hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new position in Ero Copper during the fourth quarter worth approximately $38,000. PenderFund Capital Management Ltd. acquired a new position in shares of Ero Copper during the 2nd quarter valued at about $39,000. Banque Cantonale Vaudoise grew its holdings in shares of Ero Copper by 20.0% in the first quarter. Banque Cantonale Vaudoise now owns 9,000 shares of the company’s stock valued at $239,000 after purchasing an additional 1,500 shares during the period. Corient Private Wealth LP acquired a new stake in Ero Copper during the second quarter worth about $242,000. Finally, Themes Management Co LLC acquired a new stake in Ero Copper during the first quarter worth about $255,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

About Ero Copper

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper and associated mineral products. The company’s operations are located in Brazil, where it produces copper concentrate and may recover gold and other byproducts from its mineral deposits.

Ero Copper’s principal assets include the Caraíba Operations in the state of Bahia and the Tucumã Project in the state of Pará. Caraíba is an established copper mining complex that includes underground and open-pit mines, processing facilities and related infrastructure.