Ero Copper (NYSE:ERO) Rating Lowered to Hold at Raymond James Financial

Ero Copper (NYSE:ERO) was downgraded by stock analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

ERO has been the topic of a number of other research reports. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Ero Copper in a research report on Friday, December 5th. Wall Street Zen lowered Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Ero Copper in a report on Monday, December 29th. Jefferies Financial Group downgraded Ero Copper from a “buy” rating to a “hold” rating in a research report on Sunday, December 7th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Ero Copper Price Performance

ERO stock opened at $30.98 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46. Ero Copper has a one year low of $9.30 and a one year high of $39.80. The stock has a market cap of $3.23 billion, a PE ratio of 23.29 and a beta of 1.20. The firm has a 50 day simple moving average of $29.37 and a two-hundred day simple moving average of $22.38.

Hedge Funds Weigh In On Ero Copper

Several institutional investors and hedge funds have recently bought and sold shares of ERO. FNY Investment Advisers LLC bought a new stake in Ero Copper in the fourth quarter valued at approximately $25,000. Banque Cantonale Vaudoise purchased a new position in shares of Ero Copper in the third quarter worth $111,000. SG Americas Securities LLC bought a new stake in Ero Copper during the 4th quarter valued at $115,000. Shay Capital LLC purchased a new stake in Ero Copper during the 3rd quarter valued at $202,000. Finally, Versor Investments LP bought a new stake in Ero Copper in the 3rd quarter worth $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.