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

Pi Financial upgraded shares of Ero Copper (NYSE:ERO) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, Zacks.com reports.

Separately, TheStreet raised shares of Ero Copper from a c rating to a b- rating in a report on Friday, March 8th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Ero Copper currently has a consensus rating of Hold and a consensus target price of $24.00.

Ero Copper Stock Performance

ERO opened at $20.30 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.23 and a quick ratio of 0.94. The firm has a fifty day moving average price of $18.19 and a 200 day moving average price of $15.81. Ero Copper has a 1 year low of $11.35 and a 1 year high of $24.38. The stock has a market cap of $2.09 billion, a P/E ratio of 20.71 and a beta of 1.26.

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

Institutional Investors Weigh In On Ero Copper

Hedge funds have recently modified their holdings of the company. Qube Research & Technologies Ltd purchased a new position in Ero Copper during the third quarter worth about $27,000. Acuitas Investments LLC boosted its stake in Ero Copper by 61.5% during the fourth quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock worth $33,000 after buying an additional 800 shares during the period. US Bancorp DE purchased a new position in Ero Copper during the fourth quarter worth about $54,000. Deutsche Bank AG purchased a new position in Ero Copper during the fourth quarter worth about $66,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Ero Copper during the fourth quarter worth about $79,000. Hedge funds and other 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.