Ero Copper (NYSE:ERO) Cut to Hold at Raymond James Financial

Raymond James Financial downgraded shares of Ero Copper (NYSE:ERO) from a moderate buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on ERO. Loop Capital set a $32.00 target price on Ero Copper in a research note on Tuesday, December 30th. Atb Cormark Cm upgraded Ero Copper to a “moderate buy” rating in a report on Friday, February 6th. Freedom Capital raised shares of Ero Copper to a “strong-buy” rating in a research report on Tuesday, December 30th. The Goldman Sachs Group lifted their price objective 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, Weiss Ratings reiterated a “hold (c)” rating on shares of Ero Copper in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Ero Copper Trading Up 1.3%

ERO opened at $31.39 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $29.49 and a 200-day moving average of $22.45. Ero Copper has a twelve month low of $9.30 and a twelve month high of $39.80. The stock has a market cap of $3.27 billion, a PE ratio of 23.60 and a beta of 1.20.

Institutional Investors Weigh In On Ero Copper

A number of institutional investors and hedge funds have recently made changes to their positions in ERO. Kapitalo Investimentos Ltda grew its position in Ero Copper by 86.0% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 1,076,696 shares of the company’s stock worth $21,782,000 after purchasing an additional 497,978 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Ero Copper by 21.5% in the second quarter. Frontier Capital Management Co. LLC now owns 1,354,239 shares of the company’s stock valued at $22,819,000 after buying an additional 239,935 shares during the period. Impala Asset Management LLC lifted its holdings in Ero Copper by 3.0% during the second quarter. Impala Asset Management LLC now owns 1,699,100 shares of the company’s stock valued at $28,494,000 after purchasing an additional 49,199 shares during the last quarter. Boston Partners lifted its stake in shares of Ero Copper by 37.5% during the 2nd quarter. Boston Partners now owns 889,154 shares of the company’s stock valued at $14,979,000 after buying an additional 242,594 shares in the last quarter. Finally, Scotia Capital Inc. boosted its holdings in shares of Ero Copper by 12.3% in the second quarter. Scotia Capital Inc. now owns 303,008 shares of the company’s stock worth $5,039,000 after acquiring an additional 33,146 shares during the period. Institutional investors and hedge funds 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.