Ero Copper (NYSE:ERO) Stock Rating Lowered by StockNews.com

Ero Copper (NYSE:ERO) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Several other research analysts also recently commented on the company. Jefferies Financial Group assumed coverage on Ero Copper in a report on Friday, May 3rd. They set a “hold” rating on the stock. Pi Financial raised Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. Finally, TheStreet raised Ero Copper from a “c” rating to a “b-” rating in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.00.

Ero Copper Trading Up 2.2 %

ERO traded up $0.47 during midday trading on Thursday, hitting $21.82. 455,003 shares of the company were exchanged, compared to its average volume of 351,033. The firm has a market capitalization of $2.24 billion, a P/E ratio of 22.27 and a beta of 1.21. Ero Copper has a 1-year low of $11.35 and a 1-year high of $24.38. The firm’s 50 day moving average price is $19.53 and its 200-day moving average price is $16.34. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.65.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, March 7th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). The company had revenue of $116.41 million for the quarter, compared to analyst estimates of $104.20 million. Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. During the same period in the previous year, the firm posted $0.24 earnings per share. As a group, equities analysts forecast that Ero Copper will post 1.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Timelo Investment Management Inc. bought a new position in shares of Ero Copper in the 4th quarter worth about $987,000. Montrusco Bolton Investments Inc. increased its position in Ero Copper by 245.2% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 642,010 shares of the company’s stock valued at $11,121,000 after buying an additional 456,033 shares in the last quarter. Jennison Associates LLC increased its position in Ero Copper by 4.9% in the 3rd quarter. Jennison Associates LLC now owns 3,544,861 shares of the company’s stock valued at $61,161,000 after buying an additional 165,982 shares in the last quarter. Impala Asset Management LLC increased its position in Ero Copper by 23.1% in the 3rd quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after buying an additional 344,410 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its position in Ero Copper by 3.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 175,208 shares of the company’s stock valued at $3,035,000 after buying an additional 6,631 shares in the last quarter. 71.30% of the stock is owned by 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.