Ero Copper (NYSE:ERO) Rating Increased to Moderate Buy at Raymond James Financial

Raymond James Financial upgraded shares of Ero Copper (NYSE:ERO - Free Report) to a moderate buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

ERO has been the subject of a number of other reports. BMO Capital Markets started coverage on Ero Copper in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. TD Securities restated a "buy" rating on shares of Ero Copper in a research note on Wednesday, May 7th. National Bankshares raised shares of Ero Copper from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, May 6th. National Bank Financial upgraded shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Desjardins began coverage on shares of Ero Copper in a report on Friday, April 4th. They issued a "hold" rating for the company. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $26.33.

Ero Copper Trading Up 1.1%

Shares of NYSE ERO traded up $0.19 during mid-day trading on Monday, reaching $17.04. The company had a trading volume of 359,447 shares, compared to its average volume of 413,518. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 100.24 and a beta of 1.13. Ero Copper has a 52 week low of $9.30 and a 52 week high of $23.40. The business's 50-day moving average is $14.33 and its 200-day moving average is $13.39. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83.

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

Institutional Trading of Ero Copper

Hedge funds have recently modified their holdings of the company. J. Safra Sarasin Holding AG raised its stake in shares of Ero Copper by 3.2% during the 1st quarter. J. Safra Sarasin Holding AG now owns 24,266 shares of the company's stock worth $294,000 after acquiring an additional 753 shares in the last quarter. PenderFund Capital Management Ltd. grew its holdings in Ero Copper by 0.7% in the first quarter. PenderFund Capital Management Ltd. now owns 123,492 shares of the company's stock worth $1,497,000 after purchasing an additional 836 shares during the last quarter. Northwest & Ethical Investments L.P. increased 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 worth $88,000 after purchasing an additional 1,050 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Ero Copper by 0.6% during the 4th quarter. Swiss National Bank now owns 194,100 shares of the company's stock valued at $2,616,000 after purchasing an additional 1,200 shares during the last quarter. Finally, BTG Pactual Asset Management US LLC grew its stake in Ero Copper by 12.6% during the 4th quarter. BTG Pactual Asset Management US LLC now owns 13,173 shares of the company's stock worth $178,000 after buying an additional 1,473 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other 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.