Ero Copper (NYSE:ERO) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Ero Copper (NYSE:ERO) from a sell rating to a hold rating in a report released on Friday.

A number of other brokerages also recently weighed in on ERO. TheStreet raised shares of Ero Copper from a c rating to a b- rating in a research note on Friday, March 8th. Jefferies Financial Group started coverage on Ero Copper in a research report on Friday, May 3rd. They issued a hold rating for the company. Scotiabank raised Ero Copper from a sector perform rating to a sector outperform rating in a research note on Thursday, May 30th. Pi Financial raised Ero Copper from a neutral rating to a buy rating in a research note on Thursday, April 18th. Finally, Ventum Cap Mkts lowered Ero Copper from a strong-buy rating to a hold rating in a research note on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $24.00.

Ero Copper Trading Down 2.4 %

NYSE ERO opened at $20.52 on Friday. Ero Copper has a 12 month low of $11.35 and a 12 month high of $24.38. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $2.11 billion, a PE ratio of 31.57 and a beta of 1.20. The business’s 50-day moving average price is $20.98 and its two-hundred day moving average price is $18.19.

Ero Copper (NYSE:ERO) last released its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. Ero Copper had a net margin of 14.23% and a return on equity of 10.68%. The business had revenue of $105.80 million during the quarter, compared to the consensus estimate of $104.40 million. On average, analysts expect that Ero Copper will post 1.7 EPS for the current year.

Institutional Trading of Ero Copper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in Ero Copper by 3.7% in the third quarter. FMR LLC now owns 10,719,365 shares of the company’s stock valued at $184,832,000 after acquiring an additional 379,686 shares during the period. Impala Asset Management LLC grew its position in Ero Copper by 23.1% in the 3rd quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after purchasing an additional 344,410 shares during the period. Public Sector Pension Investment Board increased its stake in Ero Copper by 3.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 175,208 shares of the company’s stock valued at $3,035,000 after purchasing an additional 6,631 shares in the last quarter. Raymond James & Associates raised its holdings in Ero Copper by 2.7% during the fourth quarter. Raymond James & Associates now owns 50,551 shares of the company’s stock worth $798,000 after buying an additional 1,346 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ero Copper by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock valued at $35,715,000 after buying an additional 461,998 shares in the last quarter. 71.30% of the stock is 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.