Ero Copper (NYSE:ERO) Raised to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Ero Copper (NYSE:ERO) from a market perform rating to an outperform rating in a report issued on Wednesday, MarketBeat reports.

Several other equities analysts have also issued reports on ERO. TheStreet raised Ero Copper from a c rating to a b- rating in a report on Friday, March 8th. Scotiabank upgraded Ero Copper from a sector perform rating to a sector outperform rating in a research note on Thursday, May 30th. Pi Financial upgraded Ero Copper from a neutral rating to a buy rating in a research note on Thursday, April 18th. StockNews.com upgraded shares of Ero Copper from a sell rating to a hold rating in a research report on Friday, June 21st. Finally, Ventum Cap Mkts lowered shares of Ero Copper from a strong-buy rating to a hold rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ero Copper presently has a consensus rating of Hold and a consensus price target of $24.00.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $21.38 on Wednesday. Ero Copper has a 1-year low of $11.35 and a 1-year high of $24.38. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The stock has a market cap of $2.21 billion, a PE ratio of 32.89 and a beta of 1.20. The stock’s fifty day simple moving average is $21.11 and its two-hundred day simple moving average is $18.48.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.11. Ero Copper had a net margin of 14.23% and a return on equity of 10.68%. The business had revenue of $105.80 million for the quarter, compared to analysts’ expectations of $104.40 million. As a group, analysts forecast that Ero Copper will post 1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC lifted its holdings in Ero Copper by 39.0% during the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after purchasing an additional 1,121,095 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ero Copper by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock worth $35,715,000 after purchasing an additional 461,998 shares in the last quarter. Impala Asset Management LLC raised its position in shares of Ero Copper by 23.1% in the third quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after purchasing an additional 344,410 shares during the period. Montrusco Bolton Investments Inc. lifted its stake in shares of Ero Copper by 31.7% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock valued at $13,435,000 after buying an additional 203,613 shares in the last quarter. Finally, Fiera Capital Corp boosted its holdings in Ero Copper by 24.1% in the 4th quarter. Fiera Capital Corp now owns 785,104 shares of the company’s stock worth $12,454,000 after buying an additional 152,245 shares during the period. Institutional investors own 71.30% of the company’s stock.

Ero Copper Company Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.