Weiss Ratings Reiterates Hold (C) Rating for Ero Copper (NYSE:ERO)

Ero Copper (NYSE:ERO)‘s stock had its “hold (c)” rating reiterated by stock analysts at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

A number of other research firms have also weighed in on ERO. Canaccord Genuity Group lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. National Bank Financial downgraded shares of Ero Copper from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 9th. TD Cowen reissued a “hold” rating on shares of Ero Copper in a research report on Tuesday, October 21st. TD Securities downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, Stifel Canada lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Ero Copper Stock Up 1.1%

Ero Copper stock opened at $20.78 on Friday. Ero Copper has a twelve month low of $9.30 and a twelve month high of $24.48. The stock’s fifty day simple moving average is $18.11 and its 200-day simple moving average is $15.48. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $2.15 billion, a P/E ratio of 15.16 and a beta of 1.24.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.13. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%.The company had revenue of $163.50 million for the quarter, compared to the consensus estimate of $263.23 million. As a group, equities analysts expect that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Acuitas Investments LLC purchased a new position in shares of Ero Copper in the 1st quarter valued at $39,000. Northwest & Ethical Investments L.P. grew its holdings in shares of Ero Copper by 22.6% during the first quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock worth $97,000 after purchasing an additional 1,483 shares during the last quarter. Letko Brosseau & Associates Inc. purchased a new position in shares of Ero Copper during the first quarter worth about $176,000. Virtu Financial LLC purchased a new position in shares of Ero Copper during the first quarter worth about $180,000. Finally, XTX Topco Ltd purchased a new position in Ero Copper during the 1st quarter worth approximately $188,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

About Ero Copper

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.