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

Ero Copper (NYSE:ERO) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other brokerages have also issued reports on ERO. Ventum Cap Mkts raised shares of Ero Copper to a “strong-buy” rating in a report on Monday, November 3rd. CIBC reiterated a “neutral” rating on shares of Ero Copper in a research report on Friday, December 5th. 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. Canaccord Genuity Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, January 14th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Ero Copper in a research note on Tuesday, October 21st. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.50.

Ero Copper Stock Down 11.8%

ERO stock opened at $33.55 on Friday. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 25.23 and a beta of 1.22. The company has a 50-day moving average of $28.16 and a two-hundred day moving average of $21.37. Ero Copper has a 52-week low of $9.30 and a 52-week high of $39.80. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $309.30 million. As a group, equities research analysts anticipate that Ero Copper will post 0.71 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ERO. FNY Investment Advisers LLC acquired a new position in Ero Copper in the fourth quarter valued at approximately $25,000. Banque Cantonale Vaudoise bought a new stake in shares of Ero Copper during the 3rd quarter valued at $111,000. SG Americas Securities LLC bought a new stake in shares of Ero Copper during the 4th quarter valued at $115,000. Shay Capital LLC acquired a new position in shares of Ero Copper in the 3rd quarter valued at $202,000. Finally, Versor Investments LP bought a new position in shares of Ero Copper in the 3rd quarter worth $217,000. Institutional investors own 71.30% of the company’s stock.

About Ero Copper

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.