Ero Copper (NYSE:ERO) Rating Lowered to “Hold” at Raymond James Financial

Ero Copper (NYSE:ERO) was downgraded by stock analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the company. Ventum Cap Mkts upgraded Ero Copper to a “strong-buy” rating in a research report on Monday, November 3rd. Loop Capital set a $32.00 price objective on shares of Ero Copper in a report on Tuesday, December 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ero Copper in a report on Monday, December 29th. TD Securities cut Ero Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Ero Copper in a research note on Friday, December 5th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.50.

Ero Copper Price Performance

ERO stock opened at $31.73 on Monday. Ero Copper has a 52 week low of $9.30 and a 52 week high of $39.80. The firm has a market capitalization of $3.31 billion, a P/E ratio of 23.86 and a beta of 1.20. The company has a fifty day simple moving average of $29.25 and a two-hundred day simple moving average of $22.26. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently modified their holdings of ERO. GMT Capital Corp raised its position in shares of Ero Copper by 7.7% in the 2nd quarter. GMT Capital Corp now owns 7,467,055 shares of the company’s stock valued at $125,865,000 after purchasing an additional 536,030 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Ero Copper by 5.0% during the second quarter. Jennison Associates LLC now owns 5,487,290 shares of the company’s stock worth $92,651,000 after buying an additional 259,830 shares during the period. Invesco Ltd. grew its holdings in shares of Ero Copper by 24.8% during the third quarter. Invesco Ltd. now owns 2,553,915 shares of the company’s stock valued at $51,666,000 after buying an additional 507,217 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Ero Copper by 77.6% in the 4th quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock valued at $72,051,000 after acquiring an additional 1,112,428 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ero Copper by 11.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock worth $50,794,000 after acquiring an additional 250,303 shares during the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

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.