Ero Copper (NYSE:ERO) Lowered to “Hold” Rating by Freedom Broker

Freedom Broker lowered shares of Ero Copper (NYSE:ERO) from a strong-buy rating to a hold rating in a research report released on Thursday morning,Zacks reports.

A number of other brokerages have also commented on ERO. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $34.00 in a report on Thursday, July 16th. Zacks Research downgraded Ero Copper from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Finally, Bradesco Corretora downgraded shares of Ero Copper from an “outperform” rating to a “neutral” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ero Copper has an average rating of “Hold” and an average target price of $32.33.

Ero Copper Trading Up 1.5%

NYSE:ERO opened at $35.29 on Thursday. Ero Copper has a 52 week low of $14.35 and a 52 week high of $40.83. The firm has a 50-day moving average price of $30.31 and a two-hundred day moving average price of $29.14. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 0.28 and a beta of 1.27.

Ero Copper (NYSE:ERO) last announced its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $284.30 million for the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. On average, equities analysts expect that Ero Copper will post 3.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Ero Copper during the 4th quarter valued at $38,000. PenderFund Capital Management Ltd. bought a new stake in shares of Ero Copper in the 2nd quarter valued at about $39,000. Kestra Advisory Services LLC purchased a new stake in Ero Copper during the 4th quarter valued at about $56,000. Banque Cantonale Vaudoise bought a new position in Ero Copper during the 3rd quarter worth approximately $111,000. Finally, Barclays PLC increased its stake in Ero Copper by 1,243.1% in the 4th quarter. Barclays PLC now owns 7,508 shares of the company’s stock worth $212,000 after purchasing an additional 6,949 shares during the period. 71.30% of the stock is currently owned by institutional investors.

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.