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

Ero Copper (NYSE:ERO) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

ERO has been the topic of a number of other reports. Scotiabank restated an “outperform” rating on shares of Ero Copper in a research report on Monday. The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $33.00 to $31.00 in a research report on Tuesday, April 14th. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Ero Copper Stock Performance

Shares of ERO opened at $29.74 on Friday. The business’s fifty day moving average price is $28.58 and its 200 day moving average price is $28.82. Ero Copper has a 12-month low of $12.79 and a 12-month high of $39.80. The stock has a market capitalization of $3.10 billion, a PE ratio of 10.58 and a beta of 1.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Monday, May 4th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The firm had revenue of $263.20 million during the quarter, compared to the consensus estimate of $245.51 million. Equities research analysts forecast that Ero Copper will post 3.92 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its stake in Ero Copper by 2,198.1% in the third quarter. Citigroup Inc. now owns 88,729 shares of the company’s stock valued at $1,798,000 after buying an additional 84,868 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of Ero Copper during the third quarter worth about $12,599,000. Quantbot Technologies LP acquired a new stake in shares of Ero Copper in the 3rd quarter worth about $1,267,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Ero Copper in the 4th quarter worth about $1,142,000. Finally, Artemis Investment Management LLP bought a new stake in Ero Copper in the 4th quarter valued at about $14,363,000. 71.30% of the stock is currently owned by institutional investors.

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.