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

by · The Cerbat Gem

Wall Street Zen cut shares of Ero Copper (NYSE:ERO – Free Report) from a strong-buy rating to a buy rating in a research report released on Saturday.

A number of other research firms have also commented on ERO. National Bank Financial lowered Ero Copper from an “outperform” rating to a “sector perform” rating in a report on Wednesday, July 9th. Desjardins began coverage on Ero Copper in a report on Friday, April 4th. They set a “hold” rating on the stock. BMO Capital Markets restated an “outperform” rating on shares of Ero Copper in a research note on Friday, July 4th. Raymond James Financial raised Ero Copper to a “moderate buy” rating in a report on Monday, June 30th. Finally, Stifel Canada raised shares of Ero Copper to a “strong-buy” rating in a report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Ero Copper has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Read Our Latest Report on ERO

Ero Copper Price Performance

Shares of NYSE:ERO opened at $14.66 on Friday. The company has a 50-day moving average price of $15.03 and a two-hundred day moving average price of $13.57. Ero Copper has a twelve month low of $9.30 and a twelve month high of $23.40. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $1.52 billion, a PE ratio of 86.21 and a beta of 1.18.

Ero Copper (NYSE:ERO – Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.17 by $0.18. Ero Copper had a net margin of 3.87% and a return on equity of 14.24%. The company had revenue of $125.10 million during the quarter, compared to the consensus estimate of $179.45 million. Equities analysts forecast that Ero Copper will post 0.71 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. GMT Capital Corp raised its stake in Ero Copper by 22.9% in the first quarter. GMT Capital Corp now owns 6,931,025 shares of the company’s stock valued at $83,938,000 after purchasing an additional 1,292,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Ero Copper in the 1st quarter worth $8,994,000. Invesco Ltd. raised its position in shares of Ero Copper by 22.6% during the 4th quarter. Invesco Ltd. now owns 3,890,977 shares of the company’s stock valued at $52,450,000 after buying an additional 715,999 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Ero Copper by 234.1% during the 1st quarter. TD Asset Management Inc now owns 935,090 shares of the company’s stock worth $11,324,000 after acquiring an additional 655,232 shares during the last quarter. Finally, Bridgewater Associates LP lifted its holdings in shares of Ero Copper by 400.2% during the 4th quarter. Bridgewater Associates LP now owns 818,269 shares of the company’s stock worth $11,026,000 after acquiring an additional 654,684 shares during the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

About Ero Copper

(Get Free Report)

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.

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