Ero Copper (NYSE:ERO) Lowered to “Hold” Rating by Stifel Canada

Stifel Canada downgraded shares of Ero Copper (NYSE:ERO) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts also recently commented on the company. Stifel Nicolaus began coverage on Ero Copper in a report on Wednesday, July 9th. They issued a “buy” rating on the stock. Raymond James Financial restated an “outperform” rating on shares of Ero Copper in a research report on Friday, October 10th. BMO Capital Markets restated an “outperform” rating on shares of Ero Copper in a research report on Friday, July 4th. National Bankshares restated a “sector perform” rating on shares of Ero Copper in a research report on Tuesday, August 5th. Finally, Zacks Research upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.00.

Ero Copper Stock Down 8.6%

Shares of ERO opened at $20.73 on Tuesday. The company has a market capitalization of $2.15 billion, a P/E ratio of 15.13 and a beta of 1.24. 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 has a one year low of $9.30 and a one year high of $24.48. The business’s 50 day simple moving average is $17.71 and its 200-day simple moving average is $15.22.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. J. Safra Sarasin Holding AG lifted its stake in shares of Ero Copper by 3.2% in the 1st quarter. J. Safra Sarasin Holding AG now owns 24,266 shares of the company’s stock valued at $294,000 after purchasing an additional 753 shares during the period. PenderFund Capital Management Ltd. raised its stake in 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 buying an additional 836 shares during the period. Envestnet Asset Management Inc. raised its stake in 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 buying an additional 1,152 shares during the period. Northwest & Ethical Investments L.P. raised its stake in 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 buying an additional 1,483 shares during the period. Finally, Geode Capital Management LLC raised its stake in Ero Copper by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock worth $936,000 after buying an additional 1,823 shares during the period. 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.