Ero Copper (NYSE:ERO) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Ero Copper (NYSE:ERO) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Other analysts have also recently issued research reports about the company. Zacks Research raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Cibc World Mkts lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. TD Securities lowered Ero Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, October 21st. TD Cowen reissued a “hold” rating on shares of Ero Copper in a research note on Tuesday, October 21st. Finally, Scotiabank restated an “outperform” rating on shares of Ero Copper in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Ero Copper currently has an average rating of “Moderate Buy” and an average price target of $32.50.

Ero Copper Stock Performance

Shares of NYSE:ERO opened at $34.14 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. Ero Copper has a one year low of $9.30 and a one year high of $39.80. The business’s 50-day simple moving average is $28.38 and its 200 day simple moving average is $21.61. The company has a market cap of $3.56 billion, a P/E ratio of 25.67 and a beta of 1.20.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. The business had revenue of $177.10 million for the quarter, compared to the consensus estimate of $309.30 million. On average, sell-side analysts forecast that Ero Copper will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GMT Capital Corp boosted its position in Ero Copper by 7.7% during the second quarter. GMT Capital Corp now owns 7,467,055 shares of the company’s stock worth $125,865,000 after purchasing an additional 536,030 shares during the period. Jennison Associates LLC boosted its position in Ero Copper by 5.0% during the second quarter. Jennison Associates LLC now owns 5,487,290 shares of the company’s stock valued at $92,651,000 after buying an additional 259,830 shares during the period. Invesco Ltd. boosted its holdings in Ero Copper by 24.8% during the 3rd quarter. Invesco Ltd. now owns 2,553,915 shares of the company’s stock valued at $51,666,000 after acquiring an additional 507,217 shares during the period. Vanguard Group Inc. grew its holdings in Ero Copper by 77.6% in the 4th quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock worth $72,051,000 after acquiring an additional 1,112,428 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ero Copper by 11.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock worth $50,794,000 after purchasing an additional 250,303 shares during the last quarter. 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.