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

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

ERO has been the subject of a number of other reports. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday. Raymond James Financial downgraded shares of Ero Copper from a “moderate buy” rating to a “hold” rating in a research report on Monday, February 9th. Canaccord Genuity Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, January 14th. Zacks Research downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Finally, ATB Cormark Capital Markets upgraded shares of Ero Copper to a “moderate buy” rating in a research report on Friday, February 6th. Two research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Ero Copper Trading Up 5.3%

Shares of NYSE:ERO opened at $28.52 on Friday. Ero Copper has a 12-month low of $12.79 and a 12-month high of $39.80. The business has a 50 day moving average of $28.04 and a 200-day moving average of $27.34. The stock has a market cap of $2.97 billion, a PE ratio of 10.15 and a beta of 1.13. 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 (NYSE:ERO) last released its quarterly earnings results on Monday, May 4th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 29.86%. The company had revenue of $263.20 million during the quarter, compared to the consensus estimate of $245.51 million. As a group, equities research analysts forecast that Ero Copper will post 3.9 earnings per share for the current year.

Institutional Trading of Ero Copper

Large investors have recently made changes to their positions in the company. Kapitalo Investimentos Ltda boosted its position in shares of Ero Copper by 86.0% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 1,076,696 shares of the company’s stock worth $21,782,000 after acquiring an additional 497,978 shares in the last quarter. Citigroup Inc. boosted its position in shares of Ero Copper by 2,198.1% during the 3rd quarter. Citigroup Inc. now owns 88,729 shares of the company’s stock worth $1,798,000 after acquiring an additional 84,868 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Ero Copper during the 3rd quarter worth approximately $12,599,000. Quantbot Technologies LP acquired a new stake in shares of Ero Copper during the 3rd quarter worth approximately $1,267,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Ero Copper during the 3rd quarter worth approximately $5,117,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

About Ero Copper

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.