Ero Copper (NYSE:ERO) Now Covered by Analysts at Bank of America

Bank of America assumed coverage on shares of Ero Copper (NYSE:ERO) in a report released on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $28.00 target price on the stock.

Several other equities analysts also recently commented on the company. StockNews.com downgraded Ero Copper from a hold rating to a sell rating in a report on Friday, July 19th. Raymond James upgraded shares of Ero Copper from a market perform rating to an outperform rating in a research note on Tuesday. BMO Capital Markets raised shares of Ero Copper from a market perform rating to an outperform rating in a research report on Wednesday, June 26th. Ventum Cap Mkts raised Ero Copper from a hold rating to a strong-buy rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group raised Ero Copper from a hold rating to a buy rating in a research report on Monday, August 5th. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $30.00.

Ero Copper Stock Performance

ERO stock opened at $18.30 on Tuesday. The firm has a 50 day moving average of $20.26 and a two-hundred day moving average of $20.07. Ero Copper has a 12 month low of $11.35 and a 12 month high of $24.34. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 28.15 and a beta of 1.19. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data 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 during the quarter. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. During the same quarter in the prior year, the company posted $0.24 earnings per share. As a group, equities analysts anticipate that Ero Copper will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its stake in shares of Ero Copper by 16.1% in the fourth quarter. Van ECK Associates Corp now owns 113,060 shares of the company’s stock valued at $1,787,000 after purchasing an additional 15,688 shares in the last quarter. National Bank of Canada FI increased its stake in Ero Copper by 26.7% in the fourth quarter. National Bank of Canada FI now owns 147,009 shares of the company’s stock valued at $2,309,000 after acquiring an additional 30,954 shares during the period. Versor Investments LP acquired a new position in Ero Copper in the fourth quarter worth about $438,000. Boston Partners lifted its stake in Ero Copper by 28.3% during the fourth quarter. Boston Partners now owns 222,096 shares of the company’s stock worth $3,506,000 after purchasing an additional 49,042 shares during the period. Finally, Fiera Capital Corp boosted its holdings in 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 purchasing an additional 152,245 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.