Ero Copper (NYSE:ERO) Raised 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 Friday morning.

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

Ero Copper Stock Down 0.6 %

Shares of NYSE ERO opened at $19.39 on Friday. The stock has a market capitalization of $2.00 billion, a P/E ratio of -102.05 and a beta of 1.20. Ero Copper has a one year low of $11.35 and a one year high of $24.34. The firm’s 50 day simple moving average is $20.60 and its two-hundred day simple moving average is $20.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60.

Ero Copper (NYSE:ERO) last released its earnings results on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company 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 period last year, the firm posted $0.24 EPS. As a group, analysts expect that Ero Copper will post 1.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ERO. Exchange Traded Concepts LLC bought a new position in Ero Copper during the 3rd quarter valued at about $38,000. Lighthouse Investment Partners LLC bought a new stake in shares of Ero Copper in the second quarter valued at about $2,521,000. Decade Renewable Partners LP purchased a new stake in shares of Ero Copper in the 2nd quarter worth approximately $1,436,000. Toronto Dominion Bank increased its holdings in shares of Ero Copper by 38.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after acquiring an additional 709 shares during the period. Finally, 1832 Asset Management L.P. raised its position in shares of Ero Copper by 74.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 130,500 shares of the company’s stock worth $2,790,000 after acquiring an additional 55,500 shares in the last quarter. 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.