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

Wall Street Zen downgraded shares of Ero Copper (NYSE:ERO) from a buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also weighed in on ERO. Bradesco Corretora lowered shares of Ero Copper from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 2nd. Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Weiss Ratings raised Ero Copper from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Bank of America raised Ero Copper from a “neutral” rating to a “buy” rating and increased their target price for the stock from $30.00 to $34.00 in a research report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Ero Copper in a report on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.33.

Ero Copper Price Performance

ERO opened at $34.09 on Friday. Ero Copper has a 1 year low of $19.09 and a 1 year high of $40.83. The company’s 50 day simple moving average is $36.17 and its 200 day simple moving average is $30.73. The stock has a market capitalization of $3.56 billion, a PE ratio of 11.44, a P/E/G ratio of 0.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30.

Ero Copper (NYSE:ERO) last released its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. As a group, sell-side analysts expect that Ero Copper will post 4.28 EPS for the current year.

Institutional Trading of Ero Copper

A number of institutional investors and hedge funds have recently bought and sold shares of ERO. TD Waterhouse Canada Inc. raised its holdings in Ero Copper by 881.8% in the third quarter. TD Waterhouse Canada Inc. now owns 113,421 shares of the company’s stock valued at $4,043,000 after buying an additional 101,869 shares during the period. Sanders Morris Harris LLC acquired a new position in Ero Copper during the third quarter valued at approximately $807,000. Artemis Investment Management LLP lifted its position in Ero Copper by 34.3% during the third quarter. Artemis Investment Management LLP now owns 893,832 shares of the company’s stock valued at $32,837,000 after buying an additional 228,194 shares in the last quarter. Engineers Gate Manager LP grew its stake in Ero Copper by 0.8% during the second quarter. Engineers Gate Manager LP now owns 37,573 shares of the company’s stock worth $1,005,000 after buying an additional 285 shares during the period. Finally, Corient Private Wealth LP grew its stake in Ero Copper by 4.0% during the second quarter. Corient Private Wealth LP now owns 9,046 shares of the company’s stock worth $242,000 after buying an additional 348 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper, gold and other mineral resources in Brazil. The company is headquartered in Vancouver, British Columbia, and its shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol ERO.

Ero Copper’s principal assets include the Caraíba Mining Complex in the state of Bahia, which produces copper, and the NX Gold operation in Mato Grosso, which produces gold.