Zacks Research Upgrades Ero Copper (NYSE:ERO) to “Strong-Buy”

Ero Copper (NYSE:ERO) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

ERO has been the subject of a number of other research reports. Loop Capital set a $32.00 target price on shares of Ero Copper in a research report on Tuesday, December 30th. TD Securities downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Ventum Cap Mkts raised Ero Copper to a “strong-buy” rating in a research report on Monday, November 3rd. The Goldman Sachs Group upped their target price on Ero Copper from $18.50 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen raised Ero Copper from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.50.

Ero Copper Stock Down 5.4%

Shares of Ero Copper stock opened at $28.86 on Tuesday. The firm has a market cap of $3.00 billion, a PE ratio of 21.70 and a beta of 1.22. The business’s 50 day simple moving average is $24.64 and its 200 day simple moving average is $19.54. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. Ero Copper has a 52-week low of $9.30 and a 52-week high of $31.36.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09). Ero Copper had a return on equity of 17.07% and a net margin of 23.44%.The business had revenue of $177.10 million for the quarter, compared to the consensus estimate of $309.30 million. On average, analysts predict that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Several hedge funds have recently bought and sold shares of ERO. Royal Bank of Canada grew its holdings in Ero Copper by 2.3% during the first quarter. Royal Bank of Canada now owns 188,384 shares of the company’s stock worth $2,283,000 after purchasing an additional 4,325 shares during the period. Amundi lifted its position in shares of Ero Copper by 6.7% in the first quarter. Amundi now owns 617,803 shares of the company’s stock valued at $6,950,000 after buying an additional 38,923 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Ero Copper during the 1st quarter worth approximately $217,000. Goldman Sachs Group Inc. boosted its stake in shares of Ero Copper by 82.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock worth $3,340,000 after acquiring an additional 124,179 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of Ero Copper during the 1st quarter worth approximately $356,000. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Company Profile

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.