Ero Copper (NYSE:ERO) Rating Increased to Strong-Buy at TD Securities

Ero Copper (NYSE:ERO) was upgraded by equities research analysts at TD Securities from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other research analysts have also issued reports on ERO. TD Cowen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday. The Goldman Sachs Group assumed coverage on shares of Ero Copper in a research note on Monday, December 2nd. They issued a “buy” rating and a $19.00 target price on the stock. Finally, StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $26.33.

Ero Copper Stock Up 7.5 %

Shares of NYSE:ERO opened at $14.16 on Wednesday. Ero Copper has a 12 month low of $12.70 and a 12 month high of $24.34. The company’s 50-day moving average price is $13.78 and its two-hundred day moving average price is $17.25. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.47 billion, a P/E ratio of 83.29 and a beta of 1.14.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ERO. Invesco Ltd. grew its holdings in Ero Copper by 22.6% during the fourth quarter. Invesco Ltd. now owns 3,890,977 shares of the company’s stock valued at $52,450,000 after purchasing an additional 715,999 shares during the period. Bridgewater Associates LP grew its holdings in Ero Copper by 400.2% during the fourth quarter. Bridgewater Associates LP now owns 818,269 shares of the company’s stock valued at $11,026,000 after purchasing an additional 654,684 shares during the period. Boston Partners grew its holdings in Ero Copper by 66.9% during the fourth quarter. Boston Partners now owns 1,101,265 shares of the company’s stock valued at $14,850,000 after purchasing an additional 441,413 shares during the period. Renaissance Technologies LLC acquired a new position in Ero Copper during the fourth quarter valued at approximately $3,509,000. Finally, Impala Asset Management LLC grew its holdings in Ero Copper by 12.7% during the third quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock valued at $49,208,000 after purchasing an additional 248,390 shares during the period. Institutional investors and hedge funds 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.