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

StockNews.com upgraded shares of Ero Copper (NYSE:ERO) from a sell rating to a hold rating in a report released on Thursday.

ERO has been the topic of a number of other reports. Pi Financial raised shares of Ero Copper from a neutral rating to a buy rating in a research note on Thursday, April 18th. BMO Capital Markets raised shares of Ero Copper from a market perform rating to an outperform rating in a research note on Wednesday, June 26th. Scotiabank raised shares of Ero Copper from a sector perform rating to a sector outperform rating in a research note on Thursday, May 30th. Ventum Cap Mkts cut shares of Ero Copper from a strong-buy rating to a hold rating in a research note on Tuesday, May 28th. Finally, Jefferies Financial Group started coverage on shares of Ero Copper in a research note on Friday, May 3rd. They set a hold rating on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $32.00.

Ero Copper Stock Performance

Shares of ERO opened at $22.82 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. The stock has a market capitalization of $2.36 billion, a P/E ratio of 35.11 and a beta of 1.19. The company’s fifty day moving average is $21.58 and its two-hundred day moving average is $18.94. Ero Copper has a 1 year low of $11.35 and a 1 year high of $24.38.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11. The company had revenue of $105.80 million for the quarter, compared to analysts’ expectations of $104.40 million. Ero Copper had a net margin of 14.23% and a return on equity of 10.68%. On average, sell-side analysts predict that Ero Copper will post 1.7 earnings per share for the current year.

Institutional Investors Weigh In On Ero Copper

Large investors have recently added to or reduced their stakes in the business. Acuitas Investments LLC grew its stake in Ero Copper by 61.5% in the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock valued at $33,000 after acquiring an additional 800 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Ero Copper in the 4th quarter valued at about $79,000. Platinum Investment Management Ltd. purchased a new position in Ero Copper in the 4th quarter valued at about $257,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ero Copper by 21.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,656 shares of the company’s stock valued at $328,000 after purchasing an additional 3,632 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in Ero Copper in the 4th quarter valued at about $356,000. 71.30% of the stock is owned by institutional investors and hedge funds.

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.