Stifel Nicolaus Begins Coverage on Ero Copper (NYSE:ERO)

Stifel Nicolaus initiated coverage on shares of Ero Copper (NYSE:ERO - Free Report) in a report issued on Wednesday, MarketBeat reports. The firm issued a buy rating on the stock.

ERO has been the topic of a number of other reports. National Bankshares downgraded shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a research note on Tuesday. Desjardins assumed coverage on Ero Copper in a research report on Friday, April 4th. They set a "hold" rating on the stock. Raymond James Financial raised Ero Copper to a "moderate buy" rating in a research note on Monday, June 30th. Wall Street Zen upgraded Ero Copper from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Ero Copper in a research report on Friday, July 4th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $26.33.

Ero Copper Price Performance

Shares of ERO traded up $0.34 during midday trading on Wednesday, hitting $15.10. 1,807,626 shares of the company traded hands, compared to its average volume of 442,726. Ero Copper has a one year low of $9.30 and a one year high of $23.40. The firm has a market cap of $1.56 billion, a P/E ratio of 88.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80. The stock has a 50-day moving average of $14.94 and a 200-day moving average of $13.55.

Ero Copper (NYSE:ERO - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.17 by $0.18. The firm had revenue of $125.10 million during the quarter, compared to the consensus estimate of $179.45 million. Ero Copper had a net margin of 3.87% and a return on equity of 14.24%. As a group, sell-side analysts predict that Ero Copper will post 0.71 EPS for the current fiscal year.

Institutional Trading of Ero Copper

Several large investors have recently modified their holdings of ERO. Acuitas Investments LLC purchased a new position in shares of Ero Copper during the 1st quarter worth approximately $39,000. State of Wyoming bought a new stake in shares of Ero Copper during the fourth quarter valued at approximately $76,000. Northwest & Ethical Investments L.P. boosted its position in shares of Ero Copper by 19.1% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company's stock valued at $88,000 after purchasing an additional 1,050 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in Ero Copper by 128.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company's stock worth $143,000 after purchasing an additional 6,000 shares during the period. Finally, Deutsche Bank AG raised its holdings in Ero Copper by 59.5% in the fourth quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock worth $144,000 after purchasing an additional 3,990 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

Ero Copper Company Profile

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.