Ero Copper (NYSE:ERO) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Ero Copper from “hold” to “buy.” Other analyst views were mixed, and MarketBeat’s consensus remained “hold,” with an average price target of $32.33.
• Ero Copper reported quarterly EPS of $1.22, beating the $1.05 consensus estimate, and revenue of $348 million, above expectations of $342.91 million.
• The shares opened at $28.83; the company had a market capitalization of about $3.01 billion and a 52-week trading range of $20.61 to $40.83.

Ero Copper (NYSE:ERO - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities analysts have also issued reports on ERO. Weiss Ratings lowered shares of Ero Copper from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, October 28th. Bank of America raised Ero Copper from a "neutral" rating to a "buy" rating and raised their target price for the stock from $30.00 to $34.00 in a research note on Thursday, July 16th. Scotiabank upgraded Ero Copper from a "sector perform" rating to a "sector outperform" rating in a report on Tuesday. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Ero Copper in a report on Wednesday, September 23rd. Finally, TD Securities restated a "hold" rating on shares of Ero Copper in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $32.33.

Ero Copper Stock Performance

Shares of ERO stock opened at $28.83 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 0.26 and a beta of 1.32. Ero Copper has a 52 week low of $20.61 and a 52 week high of $40.83. The firm has a 50 day moving average of $34.47 and a 200-day moving average of $30.67.

Ero Copper (NYSE:ERO - Get Free Report) last posted its earnings results on Monday, November 2nd. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.17. Ero Copper had a net margin of 32.21% and a return on equity of 38.98%. The business had revenue of $348.00 million for the quarter, compared to analysts' expectations of $342.91 million. On average, equities analysts forecast that Ero Copper will post 3.91 earnings per share for the current year.

Institutional Trading of Ero Copper

A number of large investors have recently modified their holdings of ERO. Hilton Head Capital Partners LLC lifted its position in shares of Ero Copper by 250.0% in the 3rd quarter. Hilton Head Capital Partners LLC now owns 700 shares of the company's stock worth $26,000 after acquiring an additional 500 shares during the period. PenderFund Capital Management Ltd. bought a new position in shares of Ero Copper in the second quarter worth $39,000. Hughes Financial Services LLC purchased a new stake in Ero Copper in the 3rd quarter worth approximately $52,000. XML Financial LLC purchased a new position in Ero Copper in the third quarter worth about $209,000. Finally, Corient Private Wealth LP purchased a new position in shares of Ero Copper during the 2nd quarter worth about $242,000. Institutional investors and hedge funds own 71.30% of the company's stock.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company's principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.

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