Ero Copper (NYSE:ERO) Stock Rating Lowered by Wall Street Zen

Ero Copper (NYSE:ERO) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities analysts also recently commented on ERO. Zacks Research downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Bank of America downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. Raymond James Financial downgraded shares of Ero Copper from a “moderate buy” rating to a “hold” rating in a report on Monday, February 9th. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a report on Monday, January 26th. Finally, National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Ero Copper presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Ero Copper Stock Up 0.2%

ERO stock opened at $28.52 on Friday. The company has a market capitalization of $2.97 billion, a P/E ratio of 10.15 and a beta of 1.13. The firm has a 50 day simple moving average of $28.04 and a 200-day simple moving average of $27.34. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. Ero Copper has a twelve month low of $12.79 and a twelve month high of $39.80.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Monday, May 4th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. The firm had revenue of $263.20 million during the quarter, compared to the consensus estimate of $245.51 million. Ero Copper had a net margin of 31.63% and a return on equity of 29.86%. On average, equities research analysts predict that Ero Copper will post 3.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

Several hedge funds and other institutional investors have recently modified their holdings of the company. Baader Bank Aktiengesellschaft acquired a new position in shares of Ero Copper during the first quarter valued at $421,000. Dimensional Fund Advisors LP boosted its holdings in shares of Ero Copper by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 986,385 shares of the company’s stock valued at $26,298,000 after acquiring an additional 28,231 shares during the period. Clare Market Investments LLC acquired a new position in shares of Ero Copper during the first quarter valued at $467,000. Walser Wealth Management Company A Ltd Liability Co acquired a new position in shares of Ero Copper during the first quarter valued at $1,470,000. Finally, James Investment Research Inc. acquired a new position in shares of Ero Copper during the first quarter valued at $533,000. 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.