Ero Copper (NYSE:ERO) Given Hold Rating at TD Cowen

TD Cowen restated their hold rating on shares of Ero Copper (NYSE:ERO) in a research note published on Tuesday, Marketbeat Ratings reports.

Other analysts have also recently issued research reports about the company. National Bank Financial cut Ero Copper from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 9th. Stifel Nicolaus started coverage on Ero Copper in a research report on Wednesday, July 9th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ero Copper in a research report on Wednesday, October 8th. Wall Street Zen cut Ero Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, October 14th. Finally, Cibc World Mkts cut Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Ero Copper Stock Down 8.6%

Shares of NYSE:ERO opened at $20.73 on Tuesday. Ero Copper has a 52-week low of $9.30 and a 52-week high of $24.48. The stock has a market cap of $2.15 billion, a P/E ratio of 15.13 and a beta of 1.24. The business’s 50 day moving average is $17.71 and its 200 day moving average is $15.22. 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 (NYSE:ERO) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. The company had revenue of $163.50 million for the quarter, compared to analysts’ expectations of $263.23 million. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%. Sell-side analysts predict that Ero Copper will post 0.71 EPS for the current year.

Institutional Trading of Ero Copper

A number of institutional investors have recently made changes to their positions in the business. GMT Capital Corp boosted its position in shares of Ero Copper by 7.7% in the 2nd quarter. GMT Capital Corp now owns 7,467,055 shares of the company’s stock worth $125,865,000 after purchasing an additional 536,030 shares in the last quarter. Jennison Associates LLC raised its stake in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ero Copper by 2.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,607,517 shares of the company’s stock worth $43,689,000 after acquiring an additional 80,359 shares during the last quarter. Bank of America Corp DE raised its stake in Ero Copper by 82.6% in the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock worth $29,919,000 after acquiring an additional 803,320 shares during the last quarter. Finally, Impala Asset Management LLC raised its stake in Ero Copper by 3.0% in the 2nd quarter. Impala Asset Management LLC now owns 1,699,100 shares of the company’s stock worth $28,494,000 after acquiring an additional 49,199 shares during the last quarter. Institutional investors and hedge funds 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.