Ero Copper (NYSE:ERO) Lifted to Hold at StockNews.com

Ero Copper (NYSE:ERO) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Other research analysts also recently issued reports about the company. Bank of America began coverage on Ero Copper in a report on Tuesday, September 3rd. They set a “buy” rating and a $28.00 price objective for the company. Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd. Raymond James upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group upgraded Ero Copper from a “hold” rating to a “buy” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ero Copper presently has an average rating of “Buy” and a consensus target price of $30.00.

Ero Copper Stock Down 0.6 %

Shares of NYSE ERO traded down $0.11 during mid-day trading on Friday, reaching $19.40. 146,096 shares of the company’s stock were exchanged, compared to its average volume of 328,510. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 29.85 and a beta of 1.20. 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 business has a fifty day simple moving average of $20.60 and a 200 day simple moving average of $20.69. Ero Copper has a twelve month low of $11.35 and a twelve month high of $24.34.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $117.10 million during the quarter. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. During the same quarter in the previous year, the business posted $0.24 earnings per share. As a group, equities analysts expect that Ero Copper will post 1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC bought a new position in shares of Ero Copper during the 3rd quarter worth approximately $38,000. Toronto Dominion Bank boosted its stake in shares of Ero Copper by 38.7% during the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after acquiring an additional 709 shares during the period. Chesapeake Capital Corp IL bought a new position in shares of Ero Copper during the 2nd quarter worth approximately $351,000. Platinum Investment Management Ltd. boosted its stake in shares of Ero Copper by 15.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock worth $362,000 after acquiring an additional 2,564 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ero Copper by 6.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock worth $469,000 after acquiring an additional 1,277 shares during the period. 71.30% of the stock is currently owned by institutional investors.

About Ero Copper

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.