Ero Copper (NYSE:ERO) Raised to “Strong-Buy” at TD Securities

Ero Copper (NYSE:ERO) was upgraded by research analysts at TD Securities from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other brokerages have also issued reports on ERO. TD Cowen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group started coverage on shares of Ero Copper in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price target for the company. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $26.33.

Ero Copper Stock Performance

ERO opened at $14.16 on Wednesday. The stock’s 50 day simple moving average is $13.78 and its 200-day simple moving average is $17.25. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.47 billion, a PE ratio of 83.29 and a beta of 1.14. Ero Copper has a 1 year low of $12.70 and a 1 year high of $24.34.

Institutional Trading of Ero Copper

Large investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in shares of Ero Copper in the 3rd quarter worth approximately $38,000. Synergy Asset Management LLC bought a new position in Ero Copper in the 4th quarter valued at $78,000. Northwest & Ethical Investments L.P. boosted its stake in Ero Copper by 19.1% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company’s stock worth $88,000 after purchasing an additional 1,050 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Ero Copper during the fourth quarter worth $125,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Ero Copper in the fourth quarter valued at $162,000. 71.30% of the stock is owned by 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.