Ero Copper (NYSE:ERO) Earns “Outperform” Rating from BMO Capital Markets

Ero Copper (NYSE:ERO)‘s stock had its “outperform” rating reissued by investment analysts at BMO Capital Markets in a research report issued on Monday. They currently have a C$52.00 target price on the stock. The rating follows a visit to ERO Copper’s operations after the company’s investor day. Matthew Murphy noted progress across the company’s assets.

A number of other analysts also recently weighed in on ERO. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a research report on Tuesday, September 1st. Jefferies Financial Group reissued a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Freedom Broker lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Scotiabank restated an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. Finally, Zacks Research raised shares of Ero Copper from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Ero Copper Stock Up 1.5%

Shares of NYSE ERO traded up $0.52 during mid-day trading on Monday, hitting $34.69. 1,128,707 shares of the stock traded hands, compared to its average volume of 1,464,920. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.29 and a beta of 1.27. The stock has a fifty day moving average price of $32.30 and a 200-day moving average price of $29.35. Ero Copper has a 52 week low of $16.88 and a 52 week high of $40.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The business 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%. Research analysts anticipate that Ero Copper will post 3.96 EPS for the current year.

Institutional Trading of Ero Copper

Institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP grew its position in Ero Copper by 0.8% during the 2nd quarter. Engineers Gate Manager LP now owns 37,573 shares of the company’s stock valued at $1,005,000 after purchasing an additional 285 shares during the last quarter. Corient Private Wealth LP raised its holdings in Ero Copper by 4.0% in the second quarter. Corient Private Wealth LP now owns 9,046 shares of the company’s stock worth $242,000 after buying an additional 348 shares during the last quarter. Amundi lifted its stake in shares of Ero Copper by 85.8% in the second quarter. Amundi now owns 965,346 shares of the company’s stock worth $25,823,000 after buying an additional 445,849 shares in the last quarter. Oakmont Investment Advisors Inc. bought a new position in shares of Ero Copper in the second quarter worth approximately $1,645,000. Finally, Van ECK Associates Corp grew its holdings in shares of Ero Copper by 22.9% during the second quarter. Van ECK Associates Corp now owns 111,171 shares of the company’s stock valued at $2,974,000 after buying an additional 20,698 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

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.