Ero Copper (NYSE:ERO) Stock Rating Upgraded by TD Securities

TD Securities upgraded shares of Ero Copper (NYSE:ERO) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

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

Ero Copper Price Performance

Ero Copper stock opened at $14.47 on Wednesday. Ero Copper has a 52 week low of $12.70 and a 52 week high of $24.34. The company’s 50 day moving average price is $13.77 and its two-hundred day moving average price is $17.23. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.50 billion, a P/E ratio of 85.09 and a beta of 1.14.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ERO. Invesco Ltd. grew its stake in Ero Copper by 22.6% in the 4th quarter. Invesco Ltd. now owns 3,890,977 shares of the company’s stock valued at $52,450,000 after buying an additional 715,999 shares in the last quarter. Bridgewater Associates LP grew its stake in Ero Copper by 400.2% in the 4th quarter. Bridgewater Associates LP now owns 818,269 shares of the company’s stock valued at $11,026,000 after buying an additional 654,684 shares in the last quarter. Boston Partners grew 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 valued at $14,850,000 after buying an additional 441,413 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Ero Copper in the 4th quarter valued at approximately $3,509,000. Finally, Impala Asset Management LLC grew its stake in Ero Copper by 12.7% in the 3rd quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock valued at $49,208,000 after buying an additional 248,390 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.