Ero Copper (NYSE:ERO) Upgraded to “Buy” at Pi Financial

Ero Copper (NYSE:ERO) was upgraded by analysts at Pi Financial from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports.

Separately, TheStreet raised shares of Ero Copper from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Ero Copper has a consensus rating of “Hold” and a consensus price target of $24.00.

Ero Copper Price Performance

ERO stock opened at $20.30 on Thursday. The firm has a 50 day moving average of $18.19 and a 200-day moving average of $15.81. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.38. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 20.71 and a beta of 1.26.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Thursday, March 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. The company had revenue of $116.41 million for the quarter, compared to analyst estimates of $104.20 million. During the same quarter in the previous year, the business posted $0.24 earnings per share. As a group, equities analysts expect that Ero Copper will post 1.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Kapitalo Investimentos Ltda purchased a new stake in Ero Copper in the 4th quarter worth approximately $5,763,000. Goldman Sachs Group Inc. grew its stake in Ero Copper by 52.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 695,823 shares of the company’s stock worth $10,987,000 after acquiring an additional 240,461 shares during the period. FIL Ltd grew its stake in Ero Copper by 105.5% in the 4th quarter. FIL Ltd now owns 4,883,502 shares of the company’s stock worth $77,212,000 after acquiring an additional 2,507,239 shares during the period. Impala Asset Management LLC grew its stake in Ero Copper by 17.1% in the 4th quarter. Impala Asset Management LLC now owns 2,150,870 shares of the company’s stock worth $33,331,000 after acquiring an additional 314,360 shares during the period. Finally, Legal & General Group Plc grew its stake in Ero Copper by 5.7% in the 4th quarter. Legal & General Group Plc now owns 64,806 shares of the company’s stock worth $1,030,000 after acquiring an additional 3,500 shares during the period. 71.30% of the stock is owned by hedge funds and other 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.