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

Wall Street Zen cut shares of Ero Copper (NYSE:ERO) from a buy rating to a hold rating in a report published on Sunday morning.

Several other equities research analysts also recently issued reports on the stock. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research note on Tuesday, July 8th. National Bank Financial cut Ero Copper from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 9th. National Bankshares reiterated a “sector perform” rating on shares of Ero Copper in a research note on Tuesday, August 5th. Stifel Nicolaus assumed coverage on Ero Copper in a research note on Wednesday, July 9th. They issued a “buy” rating on the stock. Finally, Stifel Canada raised shares of Ero Copper to a “strong-buy” rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Ero Copper currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Ero Copper Price Performance

NYSE:ERO opened at $18.66 on Friday. The stock has a market capitalization of $1.93 billion, a PE ratio of 13.62 and a beta of 1.16. Ero Copper has a 1-year low of $9.30 and a 1-year high of $23.40. The firm has a fifty day simple moving average of $14.99 and a 200 day simple moving average of $14.15. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Acuitas Investments LLC bought a new stake in shares of Ero Copper in the first quarter valued at about $39,000. Northwest & Ethical Investments L.P. boosted its holdings in Ero Copper by 22.6% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock valued at $97,000 after purchasing an additional 1,483 shares during the period. Deutsche Bank AG grew its position in shares of Ero Copper by 59.5% during the 4th quarter. Deutsche Bank AG now owns 10,700 shares of the company’s stock worth $144,000 after purchasing an additional 3,990 shares in the last quarter. Letko Brosseau & Associates Inc. acquired a new position in shares of Ero Copper during the 1st quarter worth approximately $176,000. Finally, Virtu Financial LLC bought a new position in shares of Ero Copper during the first quarter worth approximately $180,000. 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.