Ero Copper (NYSE:ERO) Upgraded at Bank of America

Bank of America upgraded shares of Ero Copper (NYSE:ERO) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, MarketBeat.com reports. They currently have $34.00 price objective on the stock, up from their prior price objective of $30.00.

Several other analysts also recently commented on the stock. The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $31.00 in a research report on Tuesday, April 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.33.

Ero Copper Trading Down 1.4%

NYSE:ERO opened at $24.18 on Thursday. The stock’s 50 day moving average price is $27.68 and its 200 day moving average price is $28.85. The company has a market capitalization of $2.52 billion, a PE ratio of 8.61 and a beta of 1.20. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. Ero Copper has a 52-week low of $12.79 and a 52-week high of $39.80.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. The company had revenue of $263.20 million during the quarter, compared to analysts’ expectations of $245.51 million. Ero Copper had a return on equity of 27.33% and a net margin of 31.63%. On average, research analysts anticipate that Ero Copper will post 3.98 EPS for the current year.

Institutional Investors Weigh In On Ero Copper

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

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.