Wall Street Zen Downgrades Ero Copper (NYSE:ERO) to Hold

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

A number of other equities research analysts also recently commented on ERO. Cibc World Mkts downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. TD Securities lowered Ero Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Raymond James Financial reaffirmed an “outperform” rating on shares of Ero Copper in a report on Wednesday, January 14th. TD Cowen reissued a “hold” rating on shares of Ero Copper in a research note on Tuesday, October 21st. Finally, Canaccord Genuity Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, January 14th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Ero Copper has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Ero Copper Stock Performance

ERO stock opened at $33.55 on Friday. The company has a 50-day simple moving average of $28.16 and a 200 day simple moving average of $21.37. The company has a market capitalization of $3.50 billion, a P/E ratio of 25.23 and a beta of 1.22. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64. Ero Copper has a fifty-two week low of $9.30 and a fifty-two week high of $39.80.

Ero Copper (NYSE:ERO) last released its earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The firm had revenue of $177.10 million during the quarter, compared to analyst estimates of $309.30 million. Ero Copper had a return on equity of 17.07% and a net margin of 23.44%. Sell-side analysts predict that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ERO. TD Waterhouse Canada Inc. increased its position in Ero Copper by 2.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company’s stock worth $503,000 after buying an additional 380 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Ero Copper by 3.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company’s stock worth $513,000 after acquiring an additional 574 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Ero Copper during the 4th quarter valued at about $25,000. Envestnet Asset Management Inc. raised its stake in shares of Ero Copper by 2.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock valued at $948,000 after acquiring an additional 1,152 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Ero Copper by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock valued at $936,000 after acquiring an additional 1,823 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.