Ero Copper (NYSE:ERO) Stock Rating Upgraded by BMO Capital Markets

BMO Capital Markets upgraded shares of Ero Copper (NYSE:ERO) from a market perform rating to an outperform rating in a report issued on Wednesday morning, MarketBeat reports.

Several other equities analysts have also recently weighed in on the company. TheStreet raised Ero Copper from a c rating to a b- rating in a report on Friday, March 8th. StockNews.com raised Ero Copper from a sell rating to a hold rating in a research report on Friday, June 21st. Pi Financial upgraded shares of Ero Copper from a neutral rating to a buy rating in a research note on Thursday, April 18th. Scotiabank upgraded shares of Ero Copper from a sector perform rating to a sector outperform rating in a research report on Thursday, May 30th. Finally, Jefferies Financial Group assumed coverage on shares of Ero Copper in a report on Friday, May 3rd. They set a hold rating for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $24.00.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $21.92 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 33.72 and a beta of 1.20. The business has a 50-day simple moving average of $21.06 and a two-hundred day simple moving average of $18.41. Ero Copper has a fifty-two week low of $11.35 and a fifty-two week high of $24.38.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Acuitas Investments LLC lifted its stake in shares of Ero Copper by 61.5% during the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock valued at $33,000 after buying an additional 800 shares in the last quarter. Raymond James & Associates grew its position in shares of 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 purchasing an additional 1,346 shares in the last quarter. Platinum Investment Management Ltd. lifted its holdings in Ero Copper by 15.9% in the 1st quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock worth $362,000 after purchasing an additional 2,564 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Ero Copper by 3.2% in the 4th quarter. CIBC Asset Management Inc now owns 90,121 shares of the company’s stock worth $1,429,000 after purchasing an additional 2,772 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ero Copper by 21.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,656 shares of the company’s stock valued at $328,000 after buying an additional 3,632 shares in the last quarter. Institutional investors own 71.30% of the company’s stock.

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.