Ero Copper (NYSE:ERO) Rating Increased to Buy at Pi Financial

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

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

Ero Copper Price Performance

NYSE:ERO opened at $20.14 on Thursday. 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 capitalization of $2.07 billion, a P/E ratio of 20.55 and a beta of 1.26. Ero Copper has a 12 month low of $11.35 and a 12 month high of $24.38. The business’s 50-day moving average is $18.28 and its 200 day moving average is $15.84.

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

Institutional Trading of Ero Copper

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD purchased a new stake in shares of Ero Copper during the 4th quarter valued at $234,997,000. FIL Ltd lifted its holdings in shares of Ero Copper by 105.5% during the 4th quarter. FIL Ltd now owns 4,883,502 shares of the company’s stock valued at $77,212,000 after purchasing an additional 2,507,239 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new stake in shares of Ero Copper during the 1st quarter valued at $10,194,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ero Copper by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock valued at $35,715,000 after purchasing an additional 461,998 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its holdings in shares of Ero Copper by 245.2% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 642,010 shares of the company’s stock valued at $11,121,000 after purchasing an additional 456,033 shares during the last quarter. Institutional investors own 71.30% of the company’s stock.

About Ero Copper

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.