Ero Copper (NYSE:ERO) Upgraded at Wall Street Zen

Key Points

• Ero Copper has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting increased analyst confidence in the stock.
• The company recently posted an earnings report with an EPS of $0.46, surpassing expectations of $0.33, although revenue fell short at $163.50 million.
• The consensus rating for Ero Copper among analysts is "Moderate Buy", with a price target set at $19.00.

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 report issued to clients and investors on Saturday.

A number of other analysts have also weighed in on ERO. National Bank Financial lowered Ero Copper from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 9th. Raymond James Financial upgraded Ero Copper to a "moderate buy" rating in a research report on Monday, June 30th. Stifel Nicolaus assumed coverage on Ero Copper in a research report on Wednesday, July 9th. They issued a "buy" rating for the company. National Bankshares reiterated a "sector perform" rating on shares of Ero Copper in a research report on Tuesday, August 5th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Ero Copper in a research report on Friday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Ero Copper Stock Performance

Shares of ERO traded up $0.12 during mid-day trading on Friday, hitting $17.48. The company's stock had a trading volume of 71,361 shares, compared to its average volume of 583,691. Ero Copper has a one year low of $9.30 and a one year high of $23.40. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05. The firm has a market capitalization of $1.81 billion, a PE ratio of 12.72 and a beta of 1.16. The stock's 50-day moving average is $14.67 and its two-hundred day moving average is $13.98.

Ero Copper (NYSE:ERO - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.13. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%.The business had revenue of $163.50 million during the quarter, compared to analyst estimates of $263.23 million. As a group, sell-side analysts anticipate that Ero Copper will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Ero Copper

Several institutional investors have recently modified their holdings of ERO. GMT Capital Corp lifted its holdings in shares of Ero Copper by 22.9% during the 1st 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. lifted its holdings in shares of Ero Copper by 119.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,628,030 shares of the company's stock valued at $27,515,000 after purchasing an additional 885,630 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Ero Copper by 82.6% during the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company's stock valued at $29,919,000 after purchasing an additional 803,320 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 valued at $11,324,000 after purchasing an additional 655,232 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Ero Copper by 2,384.8% during the 2nd quarter. Marshall Wace LLP now owns 609,621 shares of the company's stock valued at $10,272,000 after purchasing an additional 585,087 shares in the last quarter. Institutional investors own 71.30% of the company's stock.

About Ero Copper

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.