Ero Copper (NYSE:ERO) Stock Rating Upgraded by Raymond James

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

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

Ero Copper Stock Down 4.1 %

ERO opened at $18.30 on Tuesday. The business has a 50 day moving average price of $20.26 and a 200 day moving average price of $20.07. Ero Copper has a twelve month low of $11.35 and a twelve month high of $24.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. The firm has a market cap of $1.89 billion, a P/E ratio of 28.15 and a beta of 1.19.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $117.10 million during the quarter. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. During the same quarter last year, the firm earned $0.24 earnings per share. Research analysts forecast that Ero Copper will post 1.83 EPS for the current year.

Institutional Trading of Ero Copper

Several institutional investors and hedge funds have recently modified their holdings of ERO. Jennison Associates LLC increased its holdings in Ero Copper by 39.0% in the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock worth $77,117,000 after purchasing an additional 1,121,095 shares in the last quarter. Boston Partners boosted its position in shares of Ero Copper by 226.9% during the 1st quarter. Boston Partners now owns 726,068 shares of the company’s stock valued at $14,010,000 after purchasing an additional 503,972 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Ero Copper during the 4th quarter valued at about $5,763,000. Scotia Capital Inc. boosted its position in shares of Ero Copper by 290.6% during the 4th quarter. Scotia Capital Inc. now owns 292,968 shares of the company’s stock valued at $4,617,000 after purchasing an additional 217,968 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its position in shares of Ero Copper by 31.7% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock valued at $13,435,000 after purchasing an additional 203,613 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors.

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.