Ero Copper (NYSE:ERO – Get Free Report) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.
Several other analysts have also weighed in on the company. Bradesco Corretora lowered Ero Copper from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 2nd. Bank of America upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating and raised their price target for the company from $30.00 to $34.00 in a research note on Thursday, July 16th. Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. TD Securities reissued a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Ero Copper in a research note on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ero Copper presently has an average rating of “Moderate Buy” and a consensus price target of $32.33.
View Our Latest Research Report on Ero Copper
Ero Copper Stock Down 4.6%
Shares of Ero Copper stock opened at $32.84 on Monday. The company has a fifty day moving average price of $36.06 and a 200 day moving average price of $30.86. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. Ero Copper has a twelve month low of $19.09 and a twelve month high of $40.83. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 0.27 and a beta of 1.27.
Ero Copper (NYSE:ERO – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. The company had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. Equities research analysts forecast that Ero Copper will post 4.28 earnings per share for the current fiscal year.
Institutional Trading of Ero Copper
A number of institutional investors have recently added to or reduced their stakes in ERO. Cape Ann Asset Management Ltd increased its stake in shares of Ero Copper by 13.5% in the first quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock worth $51,983,000 after purchasing an additional 231,485 shares during the period. Impala Asset Management LLC acquired a new stake in shares of Ero Copper during the 2nd quarter valued at about $31,201,000. Kapitalo Investimentos Ltda raised its holdings in shares of Ero Copper by 0.5% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 1,082,320 shares of the company’s stock worth $39,710,000 after buying an additional 5,624 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ero Copper by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 986,385 shares of the company’s stock valued at $26,298,000 after acquiring an additional 28,231 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Ero Copper by 4,913.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock worth $26,000,000 after buying an additional 955,487 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.
Ero Copper Company Profile
Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.
The company’s principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.
Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.
Featured Articles
- Five stocks we like better than Ero Copper
- Aurora Rejects Curaleaf’s Higher Bid, But the Takeover Fight Isn’t Over
- Centrus Energy Is Building a Nuclear Fuel Powerhouse—Why Is Its Stock Struggling?
- Halliburton Gains Traction: Multiyear Upcycle Ahead
- Meta Platforms’ AI Comeback Faces an Earnings Test—And a $10 Billion Charge
Receive News & Ratings for Ero Copper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ero Copper and related companies with MarketBeat.com's FREE daily email newsletter.
