Ero Copper (NYSE:ERO) Coverage Initiated at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Ero Copper (NYSE:ERO) in a research note released on Wednesday, MarketBeat reports. The firm issued an outperform rating on the stock.

A number of other brokerages have also commented on ERO. TD Cowen raised Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. TD Securities raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Desjardins assumed coverage on Ero Copper in a research report on Friday, April 4th. They set a “hold” rating on the stock. Finally, Raymond James reiterated an “outperform” rating on shares of Ero Copper in a report on Friday, April 4th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $26.33.

Ero Copper Stock Down 0.0 %

Shares of Ero Copper stock opened at $10.93 on Wednesday. The company’s 50 day moving average price is $12.24 and its 200-day moving average price is $14.61. Ero Copper has a 52-week low of $9.30 and a 52-week high of $24.34. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 64.26 and a beta of 1.10.

Ero Copper (NYSE:ERO) last posted its earnings results on Thursday, March 6th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The firm had revenue of $122.50 million for the quarter, compared to analysts’ expectations of $183.26 million. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. Equities research analysts forecast that Ero Copper will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Ero Copper

Several large investors have recently made changes to their positions in ERO. Jennison Associates LLC increased its position in Ero Copper by 3.5% during the 4th quarter. Jennison Associates LLC now owns 5,909,627 shares of the company’s stock valued at $79,645,000 after buying an additional 198,800 shares in the last quarter. Invesco Ltd. grew its stake in shares of Ero Copper by 22.6% in the fourth quarter. Invesco Ltd. now owns 3,890,977 shares of the company’s stock worth $52,450,000 after acquiring an additional 715,999 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Ero Copper by 5.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,527,158 shares of the company’s stock valued at $47,529,000 after acquiring an additional 176,637 shares in the last quarter. 683 Capital Management LLC raised its position in shares of Ero Copper by 20.4% in the 4th quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company’s stock worth $33,272,000 after purchasing an additional 418,367 shares during the last quarter. Finally, Boston Partners boosted its stake in Ero Copper by 66.9% in the 4th quarter. Boston Partners now owns 1,101,265 shares of the company’s stock worth $14,850,000 after purchasing an additional 441,413 shares in the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

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.