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

Ero Copper (NYSE:ERO) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other research analysts have also recently weighed in on ERO. The Goldman Sachs Group cut shares of Ero Copper from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $31.00 in a research note on Tuesday, April 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Finally, National Bank Financial upgraded Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Ero Copper Stock Performance

Shares of NYSE:ERO traded up $0.56 during mid-day trading on Friday, reaching $25.62. 495,102 shares of the company traded hands, compared to its average volume of 1,180,069. The company’s 50 day moving average price is $27.87 and its 200-day moving average price is $28.94. The firm has a market cap of $2.67 billion, a PE ratio of 9.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. Ero Copper has a 52 week low of $12.79 and a 52 week high of $39.80.

Ero Copper (NYSE:ERO) last released its earnings results on Monday, May 4th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The company had revenue of $263.20 million for the quarter, compared to analysts’ expectations of $245.51 million. On average, equities analysts expect that Ero Copper will post 4.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new stake in Ero Copper during the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Ero Copper during the fourth quarter valued at approximately $38,000. Kestra Advisory Services LLC bought a new position in shares of Ero Copper during the fourth quarter valued at approximately $56,000. Banque Cantonale Vaudoise purchased a new stake in shares of Ero Copper in the third quarter worth approximately $111,000. Finally, SG Americas Securities LLC purchased a new stake in Ero Copper in the fourth quarter worth $115,000. Institutional investors own 71.30% of the company’s stock.

Ero Copper Company Profile

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.