Ero Copper (NYSE:ERO) Upgraded to Hold at Zacks Research

Ero Copper (NYSE:ERO) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

ERO has been the subject of several other reports. TD Securities reaffirmed a “hold” rating on shares of Ero Copper in a report on Friday, August 7th. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Freedom Broker downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $34.00 in a report on Thursday, July 16th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a report on Tuesday, September 1st. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.33.

Ero Copper Trading Down 0.7%

Ero Copper stock opened at $32.29 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 0.27 and a beta of 1.27. Ero Copper has a 1 year low of $16.37 and a 1 year high of $40.83. The firm’s 50 day moving average price is $31.96 and its two-hundred day moving average price is $29.36.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. On average, research analysts predict that Ero Copper will post 3.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP lifted its holdings in shares of Ero Copper by 0.8% during the second quarter. Engineers Gate Manager LP now owns 37,573 shares of the company’s stock worth $1,005,000 after buying an additional 285 shares during the last quarter. Corient Private Wealth LP increased its position in Ero Copper by 4.0% during the second quarter. Corient Private Wealth LP now owns 9,046 shares of the company’s stock worth $242,000 after acquiring an additional 348 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Ero Copper during the 4th quarter valued at $38,000. PenderFund Capital Management Ltd. acquired a new position in Ero Copper during the 2nd quarter valued at $39,000. Finally, Banque Cantonale Vaudoise boosted its holdings in Ero Copper by 20.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,000 shares of the company’s stock valued at $239,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper and associated mineral products. The company’s operations are located in Brazil, where it produces copper concentrate and may recover gold and other byproducts from its mineral deposits.

Ero Copper’s principal assets include the Caraíba Operations in the state of Bahia and the Tucumã Project in the state of Pará. Caraíba is an established copper mining complex that includes underground and open-pit mines, processing facilities and related infrastructure.