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

Key Points

• Wall Street Zen upgraded Ero Copper from “hold” to “buy,” while broader analyst coverage indicates a “Moderate Buy” consensus with an average price target of $32.33.
• Ero Copper reported quarterly adjusted earnings of $0.83 per share and revenue of $284.3 million, exceeding analyst estimates of $0.74 per share and $277.64 million, respectively.
• The stock was trading at $34.32 after rising 10.3%; institutional investors own approximately 71.3% of the company, whose shares have ranged from $13.37 to $39.80 over the past year.

Ero Copper (NYSE:ERO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

A number of other analysts have also recently commented on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Ero Copper in a research note on Thursday, June 4th. National Bank Financial upgraded shares of Ero Copper from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, May 5th. The Goldman Sachs Group cut shares of Ero Copper from a "buy" rating to a "neutral" rating and lowered their target price for the company from $33.00 to $31.00 in a report on Tuesday, April 14th. Bradesco Corretora upgraded Ero Copper to an "outperform" rating in a research report on Monday, July 20th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Ero Copper in a report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $32.33.

Ero Copper Trading Up 10.3%

Shares of Ero Copper stock opened at $34.32 on Friday. Ero Copper has a 52-week low of $13.37 and a 52-week high of $39.80. The stock's 50-day simple moving average is $27.42 and its 200 day simple moving average is $28.67. The stock has a market capitalization of $3.58 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.25 and a beta of 1.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30.

Ero Copper (NYSE:ERO - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.09. The firm had revenue of $284.30 million during the quarter, compared to analyst estimates of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. As a group, research analysts anticipate that Ero Copper will post 4.02 EPS for the current year.

Institutional Trading of Ero Copper

Large investors have recently modified their holdings of the business. Royal Bank of Canada grew its holdings in shares of Ero Copper by 2.3% during the first quarter. Royal Bank of Canada now owns 188,384 shares of the company's stock worth $2,283,000 after purchasing an additional 4,325 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Ero Copper in the first quarter valued at approximately $217,000. Goldman Sachs Group Inc. raised its stake in Ero Copper by 82.0% in the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company's stock valued at $3,340,000 after purchasing an additional 124,179 shares in the last quarter. Empowered Funds LLC bought a new stake in Ero Copper during the first quarter valued at approximately $356,000. Finally, Geode Capital Management LLC lifted its position in Ero Copper by 3.4% during the second quarter. Geode Capital Management LLC now owns 55,170 shares of the company's stock valued at $936,000 after purchasing an additional 1,823 shares during the last quarter. Institutional investors own 71.30% of the company's stock.

Ero Copper Company Profile

Ero Copper Corp NYSE: ERO is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.

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