Ero Copper (NYSE:ERO) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Ero Copper from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $32.33.
• Ero Copper shares opened at $37.87, up 2.0%, and remain near their 52-week high of $40.83; the stock’s 50-day and 200-day moving averages were $33.48 and $29.60, respectively.
• The company exceeded quarterly expectations, reporting earnings of $0.83 per share versus the $0.74 consensus and revenue of $284.3 million versus estimates of $277.64 million.

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

Other analysts have also recently issued reports about the stock. Jefferies Financial Group reiterated a "hold" rating on shares of Ero Copper in a research note on Monday, July 6th. Scotiabank restated an "outperform" rating on shares of Ero Copper in a research note on Monday, June 15th. TD Securities reaffirmed a "hold" rating on shares of Ero Copper in a report on Friday, August 7th. Freedom Broker downgraded shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 3rd. Finally, Bradesco Corretora lowered shares of Ero Copper from an "outperform" rating to a "neutral" rating in a report on Wednesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $32.33.

Ero Copper Trading Up 2.0%

Shares of NYSE:ERO opened at $37.87 on Friday. The business's 50-day moving average is $33.48 and its 200 day moving average is $29.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. Ero Copper has a 1 year low of $18.02 and a 1 year high of $40.83. The firm has a market capitalization of $3.95 billion, a P/E ratio of 12.71, a P/E/G ratio of 0.29 and a beta of 1.27.

Ero Copper (NYSE:ERO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%.The business had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. On average, research analysts predict that Ero Copper will post 4.28 earnings per share for the current fiscal year.

Institutional Trading of Ero Copper

Several large investors have recently made changes to their positions in ERO. Engineers Gate Manager LP increased its position in shares of Ero Copper by 0.8% during the second quarter. Engineers Gate Manager LP now owns 37,573 shares of the company's stock worth $1,005,000 after acquiring an additional 285 shares during the period. Corient Private Wealth LP raised its position in Ero Copper by 4.0% in the 2nd quarter. Corient Private Wealth LP now owns 9,046 shares of the company's stock valued at $242,000 after purchasing an additional 348 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Ero Copper in the 4th quarter valued at about $38,000. PenderFund Capital Management Ltd. purchased a new position in shares of Ero Copper in the 2nd quarter valued at about $39,000. Finally, Banque Cantonale Vaudoise boosted its stake in shares of Ero Copper by 20.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,000 shares of the company's stock valued at $239,000 after buying an additional 1,500 shares during the period. 71.30% of the stock is owned by hedge funds and other institutional investors.

About Ero Copper

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper and associated mineral products. The company's operations are located in Brazil, where it produces copper concentrate and may recover gold and other byproducts from its mineral deposits.

Ero Copper's principal assets include the Caraíba Operations in the state of Bahia and the Tucumã Project in the state of Pará. Caraíba is an established copper mining complex that includes underground and open-pit mines, processing facilities and related infrastructure.

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