Ero Copper (NYSE:ERO) Downgraded to “Neutral” Rating by Bank of America

Bank of America lowered shares of Ero Copper (NYSE:ERO) from a buy rating to a neutral rating in a research note published on Monday, MarketBeat.com reports.

Other analysts also recently issued reports about the company. Loop Capital set a $32.00 target price on Ero Copper in a research note on Tuesday, December 30th. Stifel Nicolaus downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. TD Cowen reiterated a “hold” rating on shares of Ero Copper in a report on Tuesday, October 21st. Wall Street Zen lowered Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Ero Copper in a report on Friday, December 5th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Ero Copper Trading Up 3.7%

Shares of NYSE ERO opened at $31.73 on Monday. The firm’s 50 day moving average price is $29.25 and its 200-day moving average price is $22.26. Ero Copper has a 52-week low of $9.30 and a 52-week high of $39.80. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. The company has a market cap of $3.31 billion, a PE ratio of 23.86 and a beta of 1.20.

Institutional Trading of Ero Copper

Several large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new stake in Ero Copper during the fourth quarter valued at about $25,000. Banque Cantonale Vaudoise purchased a new stake in shares of Ero Copper during the third quarter worth about $111,000. SG Americas Securities LLC bought a new stake in Ero Copper during the 4th quarter valued at approximately $115,000. Shay Capital LLC purchased a new position in Ero Copper in the 3rd quarter worth approximately $202,000. Finally, Versor Investments LP bought a new position in Ero Copper in the 3rd quarter worth approximately $217,000. 71.30% of the stock is currently owned by institutional investors.

Ero Copper Company Profile

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.