Wall Street Zen upgraded shares of Ero Copper (NYSE:ERO – Free Report) from a hold rating to a buy rating in a research note released on Saturday.
Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. The Goldman Sachs Group cut Ero Copper from a “buy” rating to a “neutral” rating and decreased their price target for the company from $33.00 to $31.00 in a report on Tuesday, April 14th. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $30.00 to $34.00 in a research report on Thursday, July 16th. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. Finally, Bradesco Corretora raised Ero Copper to an “outperform” rating in a report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.33.
Read Our Latest Stock Report on Ero Copper
Ero Copper Stock Performance
Ero Copper (NYSE:ERO – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. The firm had revenue of $284.30 million for the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. Sell-side analysts predict that Ero Copper will post 4.02 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in ERO. FIL Ltd grew its stake in shares of Ero Copper by 74.1% during the fourth quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock worth $330,161,000 after purchasing an additional 4,966,427 shares during the period. Invesco Ltd. lifted its stake in Ero Copper by 10.7% in the fourth quarter. Invesco Ltd. now owns 2,827,385 shares of the company’s stock valued at $79,987,000 after buying an additional 273,470 shares during the period. Vanguard Group Inc. lifted its stake in Ero Copper by 77.6% in the fourth quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock valued at $72,051,000 after buying an additional 1,112,428 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ero Copper by 11.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock worth $50,794,000 after buying an additional 250,303 shares during the last quarter. Finally, Cape Ann Asset Management Ltd boosted its holdings in Ero Copper by 13.5% during the first quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock worth $51,983,000 after buying an additional 231,485 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 (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.
The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.
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