Ero Copper (NYSE:ERO) Upgraded at Scotiabank

Scotiabank upgraded shares of Ero Copper (NYSE:ERO) from a sector perform rating to a sector outperform rating in a research report released on Tuesday, MarketBeat.com reports.

Several other equities analysts also recently commented on the stock. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Ero Copper in a report on Wednesday, September 23rd. Bradesco Corretora lowered shares of Ero Copper from an “outperform” rating to a “neutral” rating in a research report on Wednesday, September 2nd. TD Securities reissued a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Finally, Zacks Research cut Ero Copper from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ero Copper has an average rating of “Hold” and a consensus target price of $32.33.

Ero Copper Trading Down 9.0%

ERO stock opened at $28.03 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. Ero Copper has a twelve month low of $20.61 and a twelve month high of $40.83. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 0.27 and a beta of 1.32. The firm’s fifty day simple moving average is $34.69 and its two-hundred day simple moving average is $30.68.

Ero Copper (NYSE:ERO) last announced its earnings results on Monday, November 2nd. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.17. The business had revenue of $348.00 million for the quarter, compared to the consensus estimate of $342.91 million. Ero Copper had a net margin of 32.21% and a return on equity of 38.98%. As a group, analysts anticipate that Ero Copper will post 3.91 earnings per share for the current year.

Institutional Trading of Ero Copper

A number of large investors have recently made changes to their positions in ERO. Hughes Financial Services LLC bought a new stake in Ero Copper during the 3rd quarter valued at $52,000. XML Financial LLC purchased a new stake in shares of Ero Copper in the 3rd quarter worth $209,000. Hilton Head Capital Partners LLC lifted its holdings in shares of Ero Copper by 250.0% in the 3rd quarter. Hilton Head Capital Partners LLC now owns 700 shares of the company’s stock worth $26,000 after buying an additional 500 shares during the period. James Investment Research Inc. grew its position in shares of Ero Copper by 8.8% during the 3rd quarter. James Investment Research Inc. now owns 21,743 shares of the company’s stock worth $798,000 after buying an additional 1,750 shares in the last quarter. Finally, Oakmont Investment Advisors Inc. grew its position in shares of Ero Copper by 18.5% during the 3rd quarter. Oakmont Investment Advisors Inc. now owns 72,914 shares of the company’s stock worth $2,675,000 after buying an additional 11,405 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-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company’s principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.