Ero Copper (NYSE:ERO) Upgraded at Raymond James

Raymond James upgraded shares of Ero Copper (NYSE:ERO) from a market perform rating to an outperform rating in a report published on Tuesday, Marketbeat.com reports.

Several other equities analysts have also recently commented on ERO. StockNews.com cut shares of Ero Copper from a hold rating to a sell rating in a research note on Friday, July 19th. Ventum Cap Mkts raised Ero Copper from a hold rating to a strong-buy rating in a research note on Monday, July 22nd. Jefferies Financial Group raised shares of Ero Copper from a hold rating to a buy rating in a research note on Monday, August 5th. Scotiabank raised Ero Copper from a sector perform rating to a sector outperform rating in a research note on Thursday, May 30th. Finally, BMO Capital Markets upgraded shares of Ero Copper from a market perform rating to an outperform rating in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Ero Copper currently has an average rating of Moderate Buy and a consensus target price of $30.00.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $19.07 on Tuesday. The company has a market cap of $1.97 billion, a P/E ratio of 29.49 and a beta of 1.19. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.34. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59. The company’s fifty day moving average is $20.37 and its two-hundred day moving average is $20.07.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $117.10 million for the quarter. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. During the same period in the previous year, the business posted $0.24 EPS. Equities analysts expect that Ero Copper will post 1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently bought and sold shares of ERO. Toronto Dominion Bank grew its holdings in shares of Ero Copper by 38.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after acquiring an additional 709 shares in the last quarter. National Bank of Canada FI raised its position in shares of Ero Copper by 1.4% in the second quarter. National Bank of Canada FI now owns 58,271 shares of the company’s stock valued at $1,238,000 after buying an additional 793 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ero Copper by 6.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after acquiring an additional 1,277 shares during the period. Platinum Investment Management Ltd. lifted its position in Ero Copper by 15.9% during the first quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock worth $362,000 after purchasing an additional 2,564 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Ero Copper by 3.2% during the 4th quarter. CIBC Asset Management Inc now owns 90,121 shares of the company’s stock worth $1,429,000 after acquiring an additional 2,772 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.