Ero Copper (NYSE:ERO) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Ero Copper (NYSE:ERO) from a hold rating to a buy rating in a research report released on Saturday.

A number of other equities analysts have also recently issued reports on the company. Bank of America raised Ero Copper from a “neutral” rating to a “buy” rating and upped their target price for the stock from $30.00 to $34.00 in a report on Thursday, July 16th. Bradesco Corretora upgraded Ero Copper to an “outperform” rating in a report on Monday, July 20th. National Bank Financial raised Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. TD Securities reiterated a “hold” rating on shares of Ero Copper in a report on Friday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Ero Copper presently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Ero Copper Stock Performance

NYSE ERO opened at $34.32 on Friday. The firm’s fifty day moving average price is $27.42 and its two-hundred day moving average price is $28.67. The stock has a market cap of $3.58 billion, a PE ratio of 11.52, a PEG ratio of 0.27 and a beta of 1.21. Ero Copper has a fifty-two week low of $13.37 and a fifty-two week high of $39.80. 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 announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%.The company had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. On average, equities analysts expect that Ero Copper will post 4.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Several hedge funds and other institutional investors have recently bought and sold shares of ERO. BlackRock Inc. bought a new position in shares of Ero Copper during the 2nd quarter worth about $4,122,000. Deutsche Bank AG bought a new stake in Ero Copper in the 2nd quarter valued at about $475,000. Alberta Investment Management Corp acquired a new position in Ero Copper during the 2nd quarter worth approximately $745,000. GSA Capital Partners LLP acquired a new position in Ero Copper during the 2nd quarter worth approximately $749,000. Finally, Wealthcare Advisory Partners LLC boosted its holdings in Ero Copper by 16.2% in the second quarter. Wealthcare Advisory Partners LLC now owns 19,150 shares of the company’s stock worth $512,000 after acquiring an additional 2,675 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

Ero Copper Company Profile

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.