Ero Copper (NYSE:ERO) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• Ero Copper has been upgraded to a Strong Buy rating by Zacks Research, indicating increased analyst confidence in the stock's potential.
• The company reported an earnings per share (EPS) of $0.46 for the last quarter, surpassing analysts' expectations of $0.33, despite revenue falling short of forecasts.
• Currently, Ero Copper has a consensus rating of Moderate Buy from analysts, with a target price set at $19.00.

Ero Copper (NYSE:ERO - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

ERO has been the subject of a number of other research reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of Ero Copper in a research report on Friday, July 4th. Wall Street Zen cut Ero Copper from a "buy" rating to a "hold" rating in a research report on Sunday. National Bank Financial cut Ero Copper from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 9th. Stifel Nicolaus assumed coverage on Ero Copper in a research report on Wednesday, July 9th. They issued a "buy" rating for the company. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Ero Copper in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Ero Copper Price Performance

ERO opened at $20.70 on Tuesday. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 15.11 and a beta of 1.16. Ero Copper has a 1 year low of $9.30 and a 1 year high of $22.87. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The stock has a fifty day moving average price of $15.32 and a 200 day moving average price of $14.29.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.13. The firm had revenue of $163.50 million during the quarter, compared to analysts' expectations of $263.23 million. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%. Analysts forecast that Ero Copper will post 0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of institutional investors have recently added to or reduced their stakes in the stock. Acuitas Investments LLC acquired a new position in shares of Ero Copper in the 1st quarter worth approximately $39,000. Northwest & Ethical Investments L.P. boosted its holdings in shares of Ero Copper by 22.6% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company's stock worth $97,000 after acquiring an additional 1,483 shares in the last quarter. Letko Brosseau & Associates Inc. acquired a new position in shares of Ero Copper in the 1st quarter worth approximately $176,000. Virtu Financial LLC acquired a new position in shares of Ero Copper in the 1st quarter worth approximately $180,000. Finally, XTX Topco Ltd acquired a new position in shares of Ero Copper in the 1st quarter worth approximately $188,000. 71.30% of the stock is owned by institutional investors and hedge funds.

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.

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