Ero Copper (NYSE:ERO) Stock Rating Lowered by Bank of America

Ero Copper (NYSE:ERO) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat Ratings reports.

Other equities analysts have also recently issued research reports about the company. Freedom Capital upgraded Ero Copper to a “strong-buy” rating in a report on Tuesday, December 30th. Scotiabank restated an “outperform” rating on shares of Ero Copper in a research report on Monday, January 26th. Atb Cormark Cm upgraded shares of Ero Copper to a “moderate buy” rating in a research report on Friday, February 6th. The Goldman Sachs Group increased their target price on shares of Ero Copper from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Finally, Jefferies Financial Group cut shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ero Copper presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $30.98 on Monday. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 23.29 and a beta of 1.20. The firm has a fifty day moving average price of $29.37 and a 200 day moving average price of $22.38. Ero Copper has a fifty-two week low of $9.30 and a fifty-two week high of $39.80. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ERO. Hillsdale Investment Management Inc. grew its stake in shares of Ero Copper by 602.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company’s stock worth $47,767,000 after acquiring an additional 1,445,645 shares during the last quarter. Vanguard Group Inc. grew its position in Ero Copper by 1,614.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company’s stock worth $29,056,000 after purchasing an additional 1,350,738 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Ero Copper by 119.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,628,030 shares of the company’s stock valued at $27,515,000 after purchasing an additional 885,630 shares in the last quarter. Bank of America Corp DE increased its stake in Ero Copper by 82.6% during the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after purchasing an additional 803,320 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in shares of Ero Copper in the third quarter worth $12,599,000. 71.30% of the stock is owned by institutional investors.

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.