Ero Copper (NYSE:ERO) Upgraded at TD Cowen

TD Cowen upgraded shares of Ero Copper (NYSE:ERO) from a hold rating to a buy rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports.

A number of other research analysts also recently weighed in on ERO. The Goldman Sachs Group assumed coverage on Ero Copper in a research note on Monday, December 2nd. They set a “buy” rating and a $19.00 price target on the stock. StockNews.com upgraded Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.33.

Ero Copper Price Performance

Shares of NYSE ERO opened at $14.47 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average price is $13.77 and its 200-day moving average price is $17.23. The firm has a market capitalization of $1.50 billion, a P/E ratio of 85.09 and a beta of 1.14. Ero Copper has a 1-year low of $12.70 and a 1-year high of $24.34.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ERO. Invesco Ltd. boosted its holdings in Ero Copper by 22.6% during the 4th quarter. Invesco Ltd. now owns 3,890,977 shares of the company’s stock worth $52,450,000 after acquiring an additional 715,999 shares during the last quarter. Bridgewater Associates LP lifted its position in shares of Ero Copper by 400.2% during the fourth quarter. Bridgewater Associates LP now owns 818,269 shares of the company’s stock valued at $11,026,000 after purchasing an additional 654,684 shares in the last quarter. Boston Partners boosted its holdings in Ero Copper by 66.9% during the fourth quarter. Boston Partners now owns 1,101,265 shares of the company’s stock worth $14,850,000 after purchasing an additional 441,413 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Ero Copper in the 4th quarter worth about $3,509,000. Finally, Impala Asset Management LLC increased its stake in Ero Copper by 12.7% in the 3rd quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock valued at $49,208,000 after buying an additional 248,390 shares during the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Company Profile

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.