Ero Copper (NYSE:ERO) Downgraded by Wall Street Zen to “Hold”

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

A number of other equities analysts have also recently commented on the company. TD Securities restated a “buy” rating on shares of Ero Copper in a report on Wednesday, May 7th. Stifel Nicolaus initiated coverage on Ero Copper in a research report on Wednesday, July 9th. They issued a “buy” rating on the stock. Raymond James Financial raised Ero Copper to a “moderate buy” rating in a research report on Monday, June 30th. National Bank Financial lowered Ero Copper from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 9th. Finally, Stifel Canada raised Ero Copper to a “strong-buy” rating in a research report on Tuesday, July 8th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Ero Copper Stock Performance

Shares of Ero Copper stock opened at $13.56 on Friday. The business has a 50-day moving average of $15.11 and a 200 day moving average of $13.57. Ero Copper has a 12 month low of $9.30 and a 12 month high of $23.40. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 9.89 and a beta of 1.16. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, July 31st. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%. The company had revenue of $163.50 million during the quarter, compared to analysts’ expectations of $263.23 million. As a group, sell-side analysts forecast that Ero Copper will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Ero Copper

Hedge funds have recently bought and sold shares of the stock. J. Safra Sarasin Holding AG raised its position in shares of Ero Copper by 3.2% during the 1st quarter. J. Safra Sarasin Holding AG now owns 24,266 shares of the company’s stock worth $294,000 after acquiring an additional 753 shares in the last quarter. PenderFund Capital Management Ltd. raised its position in shares of Ero Copper by 0.7% during the 1st quarter. PenderFund Capital Management Ltd. now owns 123,492 shares of the company’s stock worth $1,497,000 after acquiring an additional 836 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Ero Copper by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock worth $948,000 after acquiring an additional 1,152 shares in the last quarter. BTG Pactual Asset Management US LLC raised its position in shares of Ero Copper by 12.6% during the 4th quarter. BTG Pactual Asset Management US LLC now owns 13,173 shares of the company’s stock worth $178,000 after acquiring an additional 1,473 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. raised its position in shares of Ero Copper by 22.6% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock worth $97,000 after acquiring an additional 1,483 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.