Ero Copper (NYSE:ERO) Lowered to Hold Rating by Zacks Research

Ero Copper (NYSE:ERO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Ventum Cap Mkts upgraded shares of Ero Copper to a “strong-buy” rating in a research note on Monday, November 3rd. TD Securities downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Ero Copper in a report on Monday, December 29th. 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, The Goldman Sachs Group increased their price target on Ero Copper from $25.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Ero Copper Stock Up 2.3%

Ero Copper stock opened at $30.70 on Thursday. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 23.08 and a beta of 1.20. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. Ero Copper has a 12 month low of $9.30 and a 12 month high of $39.80. The stock has a fifty day simple moving average of $29.70 and a two-hundred day simple moving average of $22.61.

Institutional Investors Weigh In On Ero Copper

Several hedge funds and other institutional investors have recently modified their holdings of ERO. TD Waterhouse Canada Inc. lifted its position in Ero Copper by 2.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company’s stock valued at $503,000 after purchasing an additional 380 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Ero Copper by 3.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company’s stock valued at $513,000 after buying an additional 574 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Ero Copper during the 4th quarter valued at approximately $25,000. Envestnet Asset Management Inc. increased its holdings in Ero Copper by 2.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock worth $948,000 after acquiring an additional 1,152 shares in the last quarter. 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 acquiring an additional 1,823 shares during the period. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Company Profile

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.