Ero Copper (NYSE:ERO) Stock Rating Upgraded by Zacks Research

Ero Copper (NYSE:ERO) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Several other equities analysts have also recently issued reports on the company. TD Securities reiterated a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Bradesco Corretora downgraded shares of Ero Copper from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 2nd. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a research report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ero Copper currently has an average rating of “Moderate Buy” and an average price target of $32.33.

Ero Copper Stock Down 0.7%

Shares of NYSE ERO opened at $32.29 on Tuesday. The stock has a market cap of $3.37 billion, a P/E ratio of 10.83, a PEG ratio of 0.27 and a beta of 1.27. The business’s fifty day simple moving average is $31.96 and its 200-day simple moving average is $29.36. Ero Copper has a 12-month low of $16.37 and a 12-month high of $40.83. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50.

Ero Copper (NYSE:ERO) last released its earnings results on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%.The firm had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. As a group, equities analysts predict that Ero Copper will post 3.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

Hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP increased its position in Ero Copper by 0.8% in the 2nd quarter. Engineers Gate Manager LP now owns 37,573 shares of the company’s stock valued at $1,005,000 after acquiring an additional 285 shares during the period. Corient Private Wealth LP raised its stake in Ero Copper by 4.0% during the 2nd quarter. Corient Private Wealth LP now owns 9,046 shares of the company’s stock valued at $242,000 after acquiring an additional 348 shares during the last quarter. Amundi lifted its position in Ero Copper by 85.8% during the 2nd quarter. Amundi now owns 965,346 shares of the company’s stock worth $25,823,000 after acquiring an additional 445,849 shares during the period. Oakmont Investment Advisors Inc. acquired a new stake in Ero Copper during the 2nd quarter worth approximately $1,645,000. Finally, Van ECK Associates Corp grew its stake in shares of Ero Copper by 22.9% in the 2nd quarter. Van ECK Associates Corp now owns 111,171 shares of the company’s stock valued at $2,974,000 after purchasing an additional 20,698 shares during the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Company Profile

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.