Ero Copper (NYSE:ERO) Rating Increased to Strong-Buy at TD Securities

Ero Copper (NYSE:ERO) was upgraded by research analysts at TD Securities from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. The Goldman Sachs Group began coverage on shares of Ero Copper in a research note on Monday, December 2nd. They issued a “buy” rating and a $19.00 price objective for the company. Finally, TD Cowen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ero Copper currently has a consensus rating of “Buy” and an average price target of $26.33.

Ero Copper Trading Up 7.5 %

Shares of ERO stock opened at $14.16 on Wednesday. Ero Copper has a 52-week low of $12.70 and a 52-week high of $24.34. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 83.29 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. The firm has a fifty day moving average of $13.78 and a 200-day moving average of $17.25.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Ero Copper by 25.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 769,800 shares of the company’s stock worth $10,376,000 after purchasing an additional 157,504 shares in the last quarter. Marshall Wace LLP bought a new stake in Ero Copper during the 4th quarter worth about $730,000. Bridgewater Associates LP grew its holdings in Ero Copper by 400.2% during the 4th quarter. Bridgewater Associates LP now owns 818,269 shares of the company’s stock worth $11,026,000 after acquiring an additional 654,684 shares during the last quarter. Causeway Capital Management LLC bought a new stake in Ero Copper during the 4th quarter worth about $216,000. Finally, Barclays PLC grew its holdings in Ero Copper by 39.3% during the 4th quarter. Barclays PLC now owns 47,338 shares of the company’s stock worth $638,000 after acquiring an additional 13,351 shares during 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.