Ero Copper (NYSE:ERO) Coverage Initiated at Jefferies Financial Group

Investment analysts at Jefferies Financial Group started coverage on shares of Ero Copper (NYSE:ERO) in a research note issued on Friday, MarketBeat.com reports. The firm set a “hold” rating on the stock.

A number of other research firms have also recently commented on ERO. Pi Financial raised shares of Ero Copper from a “neutral” rating to a “buy” rating in a research report on Thursday, April 18th. TheStreet upgraded shares of Ero Copper from a “c” rating to a “b-” rating in a report on Friday, March 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Ero Copper currently has a consensus rating of “Hold” and an average price target of $24.00.

Ero Copper Trading Up 1.9 %

Shares of ERO stock traded up $0.38 on Friday, hitting $20.82. 321,389 shares of the stock traded hands, compared to its average volume of 436,751. The firm’s 50-day moving average price is $19.16 and its two-hundred day moving average price is $16.15. Ero Copper has a twelve month low of $11.35 and a twelve month high of $24.38. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.94 and a current ratio of 1.23. The stock has a market capitalization of $2.14 billion, a PE ratio of 21.24 and a beta of 1.21.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. The business had revenue of $116.41 million during the quarter, compared to analyst estimates of $104.20 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. As a group, analysts anticipate that Ero Copper will post 1.6 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Acuitas Investments LLC increased its stake in Ero Copper by 61.5% during the 4th 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. Vanguard Personalized Indexing Management LLC increased its position in shares of Ero Copper by 7.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,636 shares of the company’s stock worth $201,000 after acquiring an additional 843 shares during the period. Raymond James & Associates raised its stake in shares of Ero Copper by 2.7% in the fourth quarter. Raymond James & Associates now owns 50,551 shares of the company’s stock valued at $798,000 after acquiring an additional 1,346 shares in the last quarter. Keybank National Association OH boosted its holdings in Ero Copper by 13.3% in the third quarter. Keybank National Association OH now owns 13,310 shares of the company’s stock valued at $229,000 after purchasing an additional 1,560 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Ero Copper by 3.2% during the 4th quarter. CIBC Asset Management Inc now owns 90,121 shares of the company’s stock worth $1,429,000 after purchasing an additional 2,772 shares in the last quarter. 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.