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 note issued to investors on Saturday.

Several other research firms have also issued reports on ERO. Freedom Capital upgraded shares of Ero Copper to a “strong-buy” rating in a research report on Tuesday, December 30th. ATB Cormark Capital Markets upgraded shares of Ero Copper to a “moderate buy” rating in a research report on Friday, February 6th. Weiss Ratings restated a “hold (c)” rating on shares of Ero Copper in a research note on Monday, December 29th. Bank of America downgraded Ero Copper from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. Finally, Raymond James Financial lowered Ero Copper from a “moderate buy” rating to a “hold” rating in a research note on Monday, February 9th. Two investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Ero Copper Trading Up 1.5%

ERO opened at $28.18 on Friday. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 11.09 and a beta of 1.17. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64. Ero Copper has a twelve month low of $9.30 and a twelve month high of $39.80. The company has a 50-day simple moving average of $31.34 and a 200 day simple moving average of $24.71.

Ero Copper (NYSE:ERO) last released its earnings results on Thursday, March 5th. The company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). The firm had revenue of $320.20 million during the quarter, compared to the consensus estimate of $430.46 million. Ero Copper had a net margin of 33.56% and a return on equity of 27.09%. Analysts predict that Ero Copper will post 0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in Ero Copper by 2.3% in the 1st quarter. Royal Bank of Canada now owns 188,384 shares of the company’s stock valued at $2,283,000 after purchasing an additional 4,325 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ero Copper during the first quarter worth $217,000. Goldman Sachs Group Inc. grew its stake in shares of Ero Copper by 82.0% during the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock worth $3,340,000 after buying an additional 124,179 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Ero Copper during the first quarter worth $356,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Ero Copper by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock worth $948,000 after buying an additional 1,152 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

About Ero Copper

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.