Ero Copper (NYSE:ERO) Raised to “Outperform” at Raymond James

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

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

Ero Copper Trading Down 4.1 %

ERO stock opened at $18.30 on Tuesday. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.34. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 28.15 and a beta of 1.19. The business’s 50-day moving average is $20.26 and its 200 day moving average is $20.07. 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 (NYSE:ERO) last posted its earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business earned $0.24 EPS. On average, sell-side analysts anticipate that Ero Copper will post 1.83 EPS for the current fiscal year.

Institutional Trading of Ero Copper

A number of hedge funds have recently made changes to their positions in ERO. Toronto Dominion Bank boosted its holdings in Ero Copper by 38.7% in the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after purchasing an additional 709 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Ero Copper during the fourth quarter valued at $79,000. Platinum Investment Management Ltd. bought a new stake in shares of Ero Copper during the fourth quarter valued at about $257,000. Chesapeake Capital Corp IL bought a new stake in shares of Ero Copper during the second quarter valued at about $351,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ero Copper by 6.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after purchasing an additional 1,277 shares in the last quarter. Hedge funds and other institutional investors 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.