Ero Copper (NYSE:ERO) Upgraded to Moderate Buy at Atb Cormark Cm

Atb Cormark Cm upgraded shares of Ero Copper (NYSE:ERO) to a moderate buy rating in a research note published on Friday morning,Zacks.com reports.

Several other equities research analysts have also commented on the company. Ventum Cap Mkts upgraded Ero Copper to a “strong-buy” rating in a research note on Monday, November 3rd. Zacks Research upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Jefferies Financial Group downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Ero Copper in a research report on Friday, December 5th. Finally, Scotiabank restated an “outperform” rating on shares of Ero Copper in a report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Ero Copper Stock Performance

Shares of ERO stock opened at $30.64 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 23.04 and a beta of 1.20. Ero Copper has a one year low of $9.30 and a one year high of $39.80. The company has a 50 day moving average price of $29.12 and a 200 day moving average price of $22.04.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The company had revenue of $177.10 million during the quarter, compared to analyst estimates of $309.30 million. Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. Sell-side analysts anticipate that Ero Copper will post 0.71 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ERO. Vanguard Group Inc. raised its stake in Ero Copper by 1,614.0% during the third quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company’s stock valued at $29,056,000 after buying an additional 1,350,738 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Ero Copper by 119.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,628,030 shares of the company’s stock worth $27,515,000 after purchasing an additional 885,630 shares during the last quarter. Bank of America Corp DE grew its holdings in Ero Copper by 82.6% in the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock worth $29,919,000 after buying an additional 803,320 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Ero Copper in the third quarter worth $12,599,000. Finally, Marshall Wace LLP grew its position in Ero Copper by 2,384.8% in the 2nd quarter. Marshall Wace LLP now owns 609,621 shares of the company’s stock valued at $10,272,000 after buying an additional 585,087 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors.

About Ero Copper

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.