Bank of America Begins Coverage on Ero Copper (NYSE:ERO)

Bank of America initiated coverage on shares of Ero Copper (NYSE:ERO) in a research note published on Tuesday, MarketBeat reports. The firm issued a buy rating and a $28.00 price objective on the stock.

ERO has been the topic of a number of other research reports. Ventum Cap Mkts upgraded Ero Copper from a hold rating to a strong-buy rating in a research report on Monday, July 22nd. BMO Capital Markets upgraded Ero Copper from a market perform rating to an outperform rating in a research report on Wednesday, June 26th. Scotiabank upgraded shares of Ero Copper from a sector perform rating to a sector outperform rating in a research report on Thursday, May 30th. StockNews.com lowered shares of Ero Copper from a hold rating to a sell rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group raised shares of Ero Copper from a hold rating to a buy rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently 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 stock has a fifty day moving average of $20.37 and a 200-day moving average of $20.07. The stock has a market cap of $1.97 billion, a PE ratio of 29.49 and a beta of 1.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. Ero Copper has a fifty-two week low of $11.35 and a fifty-two week high of $24.34.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company posted $0.24 earnings per share. Equities research analysts anticipate that Ero Copper will post 1.83 earnings per share for the current year.

Institutional Trading of Ero Copper

A number of hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of Ero Copper by 16.1% during the fourth quarter. Van ECK Associates Corp now owns 113,060 shares of the company’s stock worth $1,787,000 after acquiring an additional 15,688 shares in the last quarter. National Bank of Canada FI raised its position in Ero Copper by 26.7% in the 4th quarter. National Bank of Canada FI now owns 147,009 shares of the company’s stock worth $2,309,000 after purchasing an additional 30,954 shares during the period. Versor Investments LP bought a new stake in Ero Copper in the fourth quarter worth $438,000. Boston Partners boosted its position in Ero Copper by 28.3% during the fourth quarter. Boston Partners now owns 222,096 shares of the company’s stock valued at $3,506,000 after buying an additional 49,042 shares during the period. Finally, Fiera Capital Corp grew its stake in shares of Ero Copper by 24.1% during the fourth quarter. Fiera Capital Corp now owns 785,104 shares of the company’s stock valued at $12,454,000 after buying an additional 152,245 shares during the last quarter. Institutional investors own 71.30% of the company’s stock.

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.