Ero Copper (NYSE:ERO) Rating Lowered to Hold at Wall Street Zen

Ero Copper (NYSE:ERO) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Other equities analysts have also issued research reports about the company. BMO Capital Markets reiterated an “outperform” rating on shares of Ero Copper in a research report on Friday, July 4th. Stifel Nicolaus assumed coverage on Ero Copper in a research report on Wednesday, July 9th. They issued a “buy” rating for the company. National Bankshares reiterated a “sector perform” rating on shares of Ero Copper in a research report on Tuesday, August 5th. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research report on Tuesday, July 8th. Finally, Raymond James Financial upgraded Ero Copper to a “moderate buy” rating in a report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Ero Copper Trading Up 7.1%

Shares of ERO stock opened at $19.96 on Friday. The stock has a 50-day simple moving average of $15.10 and a 200 day simple moving average of $14.20. Ero Copper has a fifty-two week low of $9.30 and a fifty-two week high of $22.87. The stock has a market capitalization of $2.07 billion, a P/E ratio of 14.57 and a beta of 1.16. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%.The business had revenue of $163.50 million during the quarter, compared to analyst estimates of $263.23 million. On average, sell-side analysts expect that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently made changes to their positions in ERO. GMT Capital Corp raised its stake in shares of Ero Copper by 22.9% during the 1st quarter. GMT Capital Corp now owns 6,931,025 shares of the company’s stock worth $83,938,000 after purchasing an additional 1,292,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Ero Copper by 119.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,628,030 shares of the company’s stock worth $27,515,000 after purchasing an additional 885,630 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Ero Copper by 82.6% during the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock worth $29,919,000 after purchasing an additional 803,320 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Ero Copper by 234.1% during the 1st quarter. TD Asset Management Inc now owns 935,090 shares of the company’s stock worth $11,324,000 after purchasing an additional 655,232 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Ero Copper by 2,384.8% during the 2nd quarter. Marshall Wace LLP now owns 609,621 shares of the company’s stock worth $10,272,000 after purchasing an additional 585,087 shares in the last quarter. 71.30% of the stock is 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.