Ero Copper (NYSE:ERO) Rating Increased to Strong-Buy at TD Securities

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

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

Ero Copper Stock Performance

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC purchased a new stake in Ero Copper during the third quarter worth approximately $38,000. Synergy Asset Management LLC acquired a new stake in Ero Copper during the fourth quarter worth approximately $78,000. Northwest & Ethical Investments L.P. lifted its position in shares of Ero Copper by 19.1% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company’s stock worth $88,000 after buying an additional 1,050 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Ero Copper in the 4th quarter valued at $125,000. Finally, Quantbot Technologies LP purchased a new position in shares of Ero Copper in the 4th quarter valued at $162,000. 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.