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

Ero Copper (NYSE:ERO) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

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

Ero Copper Stock Performance

Shares of ERO stock opened at $19.39 on Friday. The firm’s 50 day moving average is $20.60 and its 200 day moving average is $20.68. 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 12 month low of $11.35 and a 12 month high of $24.34. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Ero Copper (NYSE:ERO) last issued its earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $117.10 million for the quarter. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. During the same period in the previous year, the firm earned $0.24 EPS. On average, sell-side analysts anticipate that Ero Copper will post 1.16 earnings per share for the current year.

Institutional Investors Weigh In On Ero Copper

Hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC raised its position in shares of Ero Copper by 39.0% during the 1st 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 in the last quarter. Russell Investments Group Ltd. raised its position in Ero Copper by 4.1% during the first quarter. Russell Investments Group Ltd. now owns 783,756 shares of the company’s stock valued at $15,111,000 after purchasing an additional 30,665 shares in the last quarter. Boston Partners raised its position in Ero Copper by 226.9% during the first quarter. Boston Partners now owns 726,068 shares of the company’s stock valued at $14,010,000 after purchasing an additional 503,972 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Ero Copper by 32.9% during the second quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock worth $9,922,000 after purchasing an additional 115,002 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Ero Copper by 22.5% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock worth $7,266,000 after purchasing an additional 62,500 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.