Ero Copper (NYSE:ERO) Raised to “Buy” at Wall Street Zen

Ero Copper (NYSE:ERO) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

Several other research firms have also commented on ERO. Bradesco Corretora lowered shares of Ero Copper from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 2nd. Weiss Ratings downgraded shares of Ero Copper from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 28th. Freedom Broker lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Zacks Research cut Ero Copper from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Ero Copper in a research report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.33.

Ero Copper Stock Performance

Shares of Ero Copper stock opened at $28.83 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 firm has a market capitalization of $3.01 billion, a P/E ratio of 7.73, a P/E/G ratio of 0.26 and a beta of 1.32. The business has a fifty day simple moving average of $34.47 and a two-hundred day simple moving average of $30.67. Ero Copper has a 12 month low of $20.61 and a 12 month high of $40.83.

Ero Copper (NYSE:ERO) last released its earnings results on Monday, November 2nd. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.17. The firm 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%. On average, equities analysts forecast that Ero Copper will post 3.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently bought and sold shares of ERO. Amundi boosted its stake in Ero Copper by 85.8% during the 2nd 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. BlackRock Inc. bought a new stake in shares of Ero Copper in the 2nd quarter worth $4,122,000. Legal & General Group Plc purchased a new position in shares of Ero Copper in the second quarter worth $2,563,000. Royal Bank of Canada raised its stake in shares of Ero Copper by 123.7% in the first quarter. Royal Bank of Canada now owns 354,638 shares of the company’s stock worth $9,459,000 after purchasing an additional 196,101 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new position in shares of Ero Copper in the second quarter worth $9,397,000. Institutional investors own 71.30% of the company’s stock.

Ero Copper Company Profile