Ero Copper (NYSE:ERO) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Ero Copper (NYSE:ERO) from a market perform rating to an outperform rating in a research report released on Wednesday, Marketbeat.com reports.

Several other research firms have also weighed in on ERO. TheStreet raised Ero Copper from a c rating to a b- rating in a research report on Friday, March 8th. Ventum Cap Mkts downgraded shares of Ero Copper from a strong-buy rating to a hold rating in a report on Tuesday, May 28th. Jefferies Financial Group started coverage on shares of Ero Copper in a research report on Friday, May 3rd. They set a hold rating on the stock. StockNews.com raised shares of Ero Copper from a sell rating to a hold rating in a research report on Friday, June 21st. Finally, Scotiabank raised shares of Ero Copper from a sector perform rating to a sector outperform rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $24.00.

Ero Copper Stock Performance

Shares of ERO opened at $21.38 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Ero Copper has a 12 month low of $11.35 and a 12 month high of $24.38. The firm has a fifty day simple moving average of $21.11 and a 200 day simple moving average of $18.48. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 32.89 and a beta of 1.20.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. The company had revenue of $105.80 million during the quarter, compared to the consensus estimate of $104.40 million. Ero Copper had a net margin of 14.23% and a return on equity of 10.68%. Research analysts forecast that Ero Copper will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERO. Jennison Associates LLC boosted its holdings in shares of Ero Copper by 39.0% during the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock worth $77,117,000 after buying an additional 1,121,095 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ero Copper by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock worth $35,715,000 after purchasing an additional 461,998 shares during the period. Impala Asset Management LLC lifted its holdings in Ero Copper by 23.1% during the 3rd quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock worth $31,661,000 after purchasing an additional 344,410 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its stake in Ero Copper by 31.7% in 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 during the period. Finally, Fiera Capital Corp grew its holdings in Ero Copper by 24.1% in the 4th 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 in the last quarter. 71.30% of the stock is owned by institutional investors.

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.