Ero Copper (NYSE:ERO) Lowered to “Hold” Rating by Wall Street Zen

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

Several other analysts have also weighed in on the stock. Stifel Canada upgraded shares of Ero Copper to a “strong-buy” rating in a research note on Tuesday, July 8th. National Bankshares restated a “sector perform” rating on shares of Ero Copper in a report on Tuesday. Scotiabank restated an “outperform” rating on shares of Ero Copper in a report on Tuesday, July 8th. BMO Capital Markets restated an “outperform” rating on shares of Ero Copper in a report on Friday, July 4th. Finally, Stifel Nicolaus assumed coverage on shares of Ero Copper in a report on Wednesday, July 9th. They set a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.50.

Ero Copper Stock Performance

NYSE:ERO opened at $13.95 on Friday. The company has a fifty day moving average of $15.13 and a 200-day moving average of $13.58. The firm has a market capitalization of $1.45 billion, a P/E ratio of 10.18 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 has a twelve month low of $9.30 and a twelve month high of $23.40.

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

Institutional Trading of Ero Copper

Several institutional investors have recently made changes to their positions in the company. GMT Capital Corp grew its stake in shares of Ero Copper by 22.9% in the 1st quarter. GMT Capital Corp now owns 6,931,025 shares of the company’s stock worth $83,938,000 after acquiring an additional 1,292,100 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Ero Copper by 5.0% in the 2nd quarter. Jennison Associates LLC now owns 5,487,290 shares of the company’s stock worth $92,651,000 after acquiring an additional 259,830 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Ero Copper by 22.6% in the 4th quarter. Invesco Ltd. now owns 3,890,977 shares of the company’s stock worth $52,450,000 after buying an additional 715,999 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ero Copper by 2.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,607,517 shares of the company’s stock valued at $43,689,000 after buying an additional 80,359 shares during the period. Finally, 683 Capital Management LLC grew its position in Ero Copper by 20.4% during the fourth quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company’s stock valued at $33,272,000 after buying an additional 418,367 shares during the period. Institutional investors own 71.30% of the company’s stock.

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.