Jefferies Financial Group upgraded shares of Ero Copper (NYSE:ERO – Free Report) from a hold rating to a buy rating in a research note published on Monday, Marketbeat.com reports.
Several other analysts also recently weighed in on ERO. BMO Capital Markets upgraded shares of Ero Copper from a market perform rating to an outperform rating in a report on Wednesday, June 26th. Pi Financial raised Ero Copper from a neutral rating to a buy rating in a research note on Thursday, April 18th. Scotiabank upgraded Ero Copper from a sector perform rating to a sector outperform rating in a report on Thursday, May 30th. StockNews.com lowered shares of Ero Copper from a hold rating to a sell rating in a research note on Friday, July 19th. Finally, Ventum Cap Mkts raised shares of Ero Copper from a hold rating to a strong-buy rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $32.00.
Check Out Our Latest Research Report on ERO
Ero Copper Trading Up 7.8 %
Ero Copper (NYSE:ERO – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. The company had revenue of $117.10 million for the quarter. During the same period in the previous year, the company earned $0.24 EPS. Research analysts forecast that Ero Copper will post 1.83 EPS for the current year.
Institutional Trading of Ero Copper
Hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in shares of Ero Copper by 39.0% in the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after purchasing an additional 1,121,095 shares in the last quarter. Boston Partners lifted its holdings in Ero Copper by 226.9% during the 1st quarter. Boston Partners now owns 726,068 shares of the company’s stock worth $14,010,000 after buying an additional 503,972 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position 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 worth $35,715,000 after acquiring an additional 461,998 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Ero Copper during the 4th quarter worth about $5,763,000. Finally, Russell Investments Group Ltd. lifted its stake in Ero Copper by 42.8% during the fourth quarter. Russell Investments Group Ltd. now owns 753,091 shares of the company’s stock worth $11,892,000 after purchasing an additional 225,566 shares during 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.
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