Ero Copper (NYSE:ERO) Raised to “Sector Outperform” at Scotiabank

Scotiabank upgraded shares of Ero Copper (NYSE:ERO) from a sector perform rating to a sector outperform rating in a research report report published on Thursday morning, MarketBeat Ratings reports.

Several other research analysts have also commented on ERO. Jefferies Financial Group began coverage on Ero Copper in a report on Friday, May 3rd. They set a hold rating for the company. StockNews.com raised Ero Copper from a sell rating to a hold rating in a report on Friday, May 17th. Pi Financial raised Ero Copper from a neutral rating to a buy rating in a report on Thursday, April 18th. TheStreet raised Ero Copper from a c rating to a b- rating in a report on Friday, March 8th. Finally, Ventum Cap Mkts downgraded Ero Copper from a strong-buy rating to a hold rating in a research report on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $24.00.

Ero Copper Trading Down 1.4 %

Shares of ERO opened at $21.30 on Thursday. The business has a 50-day moving average of $20.94 and a 200 day moving average of $17.45. Ero Copper has a fifty-two week low of $11.35 and a fifty-two week high of $24.38. The firm has a market cap of $2.19 billion, a P/E ratio of 32.77 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.94 and a current ratio of 1.23.

Ero Copper (NYSE:ERO) last posted its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. Ero Copper had a return on equity of 11.86% and a net margin of 14.23%. The business had revenue of $105.80 million during the quarter, compared to analyst estimates of $104.40 million. As a group, research analysts forecast that Ero Copper will post 1.66 EPS for the current year.

Institutional Trading of Ero Copper

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its position in Ero Copper by 3.7% in the third quarter. FMR LLC now owns 10,719,365 shares of the company’s stock valued at $184,832,000 after purchasing an additional 379,686 shares during the last quarter. Jennison Associates LLC increased its stake in shares of 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 buying an additional 1,121,095 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ero Copper by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock valued at $35,715,000 after buying an additional 461,998 shares during the period. Impala Asset Management LLC increased its stake in shares of Ero Copper by 23.1% during the third quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after buying an additional 344,410 shares during the period. Finally, Montrusco Bolton Investments Inc. increased its stake in shares of Ero Copper by 31.7% during the fourth 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 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.