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 note issued to investors on Tuesday.

A number of other equities analysts have also commented on ERO. Stifel Nicolaus initiated coverage on shares of Ero Copper in a research report on Wednesday, July 9th. They issued a “buy” rating on the stock. Scotiabank restated an “outperform” rating on shares of Ero Copper in a research report on Tuesday, July 8th. National Bank Financial lowered shares of Ero Copper from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 9th. Zacks Research upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 30th. Finally, National Bankshares restated a “sector perform” rating on shares of Ero Copper in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Ero Copper Stock Performance

NYSE:ERO opened at $24.17 on Tuesday. The firm’s 50-day moving average is $17.04 and its 200-day moving average is $14.90. Ero Copper has a 52-week low of $9.30 and a 52-week high of $24.18. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 17.64 and a beta of 1.24.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. The company had revenue of $163.50 million for the quarter, compared to the consensus estimate of $263.23 million. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. Equities research analysts anticipate that Ero Copper will post 0.71 earnings per share for the current year.

Institutional Trading of Ero Copper

Several hedge funds have recently modified their holdings of ERO. Sumitomo Mitsui Trust Group Inc. acquired a new position in Ero Copper in the first quarter valued at approximately $255,000. Goldman Sachs Group Inc. lifted its holdings in Ero Copper by 82.0% in the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock valued at $3,340,000 after buying an additional 124,179 shares during the period. Sprott Inc. lifted its holdings in Ero Copper by 64.3% in the first quarter. Sprott Inc. now owns 748,185 shares of the company’s stock valued at $9,068,000 after buying an additional 292,896 shares during the period. Wincap Financial LLC lifted its holdings in Ero Copper by 29.4% in the first quarter. Wincap Financial LLC now owns 96,510 shares of the company’s stock valued at $1,170,000 after buying an additional 21,948 shares during the period. Finally, TD Asset Management Inc lifted its holdings in Ero Copper by 234.1% in the first quarter. TD Asset Management Inc now owns 935,090 shares of the company’s stock valued at $11,324,000 after buying an additional 655,232 shares during the period. 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.