Ero Copper (NYSE:ERO) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Ero Copper (NYSE:ERO) from a strong sell rating to a hold rating in a research note published on Tuesday,Zacks reports.

Other research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Bradesco Corretora cut shares of Ero Copper from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 2nd. Freedom Broker lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a report on Tuesday, September 1st. Finally, TD Securities restated a “hold” rating on shares of Ero Copper in a research report on Friday, August 7th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Ero Copper Price Performance

NYSE:ERO opened at $32.29 on Tuesday. Ero Copper has a 52-week low of $16.37 and a 52-week high of $40.83. The stock has a fifty day moving average of $31.96 and a 200 day moving average of $29.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 0.27 and a beta of 1.27.

Ero Copper (NYSE:ERO) last announced its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $284.30 million for the quarter, compared to analyst estimates of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. On average, research analysts expect that Ero Copper will post 3.96 EPS for the current fiscal year.

Institutional Trading of Ero Copper

A number of hedge funds have recently bought and sold shares of ERO. Cape Ann Asset Management Ltd boosted its stake in shares of Ero Copper by 13.5% in the 1st quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock valued at $51,983,000 after purchasing an additional 231,485 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Ero Copper by 602.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company’s stock worth $47,767,000 after purchasing an additional 1,445,645 shares during the period. Impala Asset Management LLC bought a new stake in Ero Copper in the second quarter worth $31,201,000. Kapitalo Investimentos Ltda bought a new stake in Ero Copper in the second quarter worth $28,802,000. Finally, Dimensional Fund Advisors LP boosted its position in Ero Copper by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 986,385 shares of the company’s stock valued at $26,298,000 after buying an additional 28,231 shares during the period. Institutional investors own 71.30% of the company’s stock.

Ero Copper Company Profile

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.