Wall Street Zen Upgrades Ero Copper (NYSE:ERO) to Buy

Ero Copper (NYSE:ERO) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other analysts have also commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a report on Tuesday, September 1st. Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Ero Copper in a research report on Wednesday. Bank of America raised Ero Copper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $30.00 to $34.00 in a research report on Thursday, July 16th. Finally, Bradesco Corretora cut Ero Copper from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.33.

Ero Copper Stock Down 0.0%

Shares of Ero Copper stock opened at $37.87 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $33.48 and its two-hundred day simple moving average is $29.61. The company has a market cap of $3.95 billion, a P/E ratio of 12.71, a PEG ratio of 0.30 and a beta of 1.27. Ero Copper has a 12-month low of $18.02 and a 12-month high of $40.83.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data 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 net margin of 29.79% and a return on equity of 30.32%. The business had revenue of $284.30 million during the quarter, compared to analyst estimates of $277.64 million. Research analysts anticipate that Ero Copper will post 4.28 EPS for the current year.

Institutional Inflows and Outflows

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

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.