Ero Copper's (ERO) "Hold" Rating Reiterated at TD Cowen

Key Points

• Ero Copper's stock retains a "hold" rating as reiterated by TD Cowen, while other analysts have mixed views with ratings ranging from "outperform" to "hold."
• The company reported strong quarterly earnings with an EPS of $0.46, exceeding analysts' expectations, although revenue fell short of estimates.
• Institutional investors own 71.30% of Ero Copper's stock, with significant recent increases in holdings from firms like GMT Capital and Bank of America Corp.

Ero Copper (NYSE:ERO - Get Free Report)'s stock had its "hold" rating reiterated by equities research analysts at TD Cowen in a research note issued to investors on Tuesday, MarketBeat Ratings reports.

Other analysts have also recently issued reports about the company. Raymond James Financial reissued an "outperform" rating on shares of Ero Copper in a report on Friday, October 10th. National Bankshares reiterated a "sector perform" rating on shares of Ero Copper in a research report on Tuesday, August 5th. Weiss Ratings restated a "hold (c)" rating on shares of Ero Copper in a research report on Wednesday, October 8th. Scotiabank cut shares of Ero Copper from an "outperform" rating to a "hold" rating in a research note on Tuesday, October 14th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Ero Copper in a research report on Friday, July 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Ero Copper Price Performance

Ero Copper stock opened at $22.71 on Tuesday. The business has a 50 day simple moving average of $17.57 and a 200-day simple moving average of $15.18. Ero Copper has a 12 month low of $9.30 and a 12 month high of $24.48. 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 market capitalization of $2.35 billion, a PE ratio of 16.57 and a beta of 1.24.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GMT Capital Corp boosted its holdings in shares of Ero Copper by 7.7% during the second quarter. GMT Capital Corp now owns 7,467,055 shares of the company's stock worth $125,865,000 after purchasing an additional 536,030 shares during the last quarter. Jennison Associates LLC grew its holdings in Ero Copper by 5.0% in the 2nd quarter. Jennison Associates LLC now owns 5,487,290 shares of the company's stock valued at $92,651,000 after buying an additional 259,830 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ero Copper by 2.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,607,517 shares of the company's stock valued at $43,689,000 after acquiring an additional 80,359 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Ero Copper by 82.6% in the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company's stock worth $29,919,000 after acquiring an additional 803,320 shares during the last quarter. Finally, Impala Asset Management LLC grew its holdings in Ero Copper by 3.0% in the second quarter. Impala Asset Management LLC now owns 1,699,100 shares of the company's stock valued at $28,494,000 after purchasing an additional 49,199 shares during the period. 71.30% of the stock is currently 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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