Ero Copper (NYSE:ERO) Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Ero Copper (NYSE:ERO) from a hold rating to a sell rating in a report released on Thursday morning.

Several other brokerages also recently commented on ERO. Pi Financial raised Ero Copper from a neutral rating to a buy rating in a report on Thursday, April 18th. Jefferies Financial Group started coverage on Ero Copper in a report on Friday, May 3rd. They issued a hold rating on the stock. Scotiabank raised Ero Copper from a sector perform rating to a sector outperform rating in a report on Thursday, May 30th. TheStreet raised Ero Copper from a c rating to a b- rating in a report on Friday, March 8th. Finally, Ventum Cap Mkts downgraded Ero Copper from a strong-buy rating to a hold rating in a report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $24.00.

Ero Copper Trading Down 1.6 %

ERO stock opened at $20.31 on Thursday. Ero Copper has a 1-year low of $11.35 and a 1-year high of $24.38. The firm has a market cap of $2.09 billion, a P/E ratio of 31.25 and a beta of 1.20. The business’s 50 day moving average is $21.04 and its 200-day moving average is $17.96. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.11. The company had revenue of $105.80 million for the quarter, compared to analyst estimates of $104.40 million. Ero Copper had a return on equity of 10.68% and a net margin of 14.23%. Equities analysts anticipate that Ero Copper will post 1.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of Ero Copper by 3.7% during the 3rd quarter. FMR LLC now owns 10,719,365 shares of the company’s stock worth $184,832,000 after buying an additional 379,686 shares during the period. Jennison Associates LLC raised its position in shares of Ero Copper by 39.0% during the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after acquiring an additional 1,121,095 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ero Copper by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock valued at $35,715,000 after purchasing an additional 461,998 shares during the period. Impala Asset Management LLC lifted its stake in shares of Ero Copper by 23.1% in the 3rd quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after purchasing an additional 344,410 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its position in shares of Ero Copper by 31.7% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock worth $13,435,000 after purchasing an additional 203,613 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Company Profile

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.