Wall Street Zen Upgrades Ero Copper (NYSE:ERO) to “Buy”

Ero Copper (NYSE:ERO) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

ERO has been the subject of several other research reports. Scotiabank restated an “outperform” rating on shares of Ero Copper in a research note on Monday, January 26th. Bank of America downgraded Ero Copper from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. The Goldman Sachs Group raised their price objective on Ero Copper from $25.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Ero Copper in a research note on Friday, December 5th. Finally, Canaccord Genuity Group upgraded Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Ero Copper Trading Down 4.2%

Ero Copper stock opened at $27.71 on Friday. The stock has a 50-day moving average price of $31.33 and a 200 day moving average price of $24.61. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 10.91 and a beta of 1.17. Ero Copper has a 52 week low of $9.30 and a 52 week high of $39.80. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Thursday, March 5th. The company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.02). Ero Copper had a return on equity of 27.09% and a net margin of 33.56%.The business had revenue of $320.20 million during the quarter, compared to analyst estimates of $430.46 million. Sell-side analysts anticipate that Ero Copper will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in shares of Ero Copper in the fourth quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Ero Copper in the 4th quarter valued at $38,000. Kestra Advisory Services LLC purchased a new position in Ero Copper in the 4th quarter valued at $56,000. Banque Cantonale Vaudoise acquired a new stake in Ero Copper during the 3rd quarter worth $111,000. Finally, SG Americas Securities LLC acquired a new stake in Ero Copper during the 4th quarter worth $115,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.