Ero Copper (NYSE:ERO) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Ero Copper (NYSE:ERO) from a hold rating to a strong sell rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts have also commented on the company. TD Securities restated a “hold” rating on shares of Ero Copper in a research report on Friday, August 7th. Jefferies Financial Group reissued a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ero Copper presently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Ero Copper Stock Down 5.5%

Shares of NYSE ERO opened at $33.00 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The firm has a 50-day simple moving average of $28.24 and a two-hundred day simple moving average of $28.76. Ero Copper has a 1 year low of $13.37 and a 1 year high of $39.80. The company has a market cap of $3.44 billion, a P/E ratio of 11.07, a PEG ratio of 0.27 and a beta of 1.21.

Ero Copper (NYSE:ERO) last issued its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $284.30 million during the quarter, compared to analyst estimates of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. Research analysts anticipate that Ero Copper will post 4.02 earnings per share for the current year.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently made changes to their positions in the stock. Impala Asset Management LLC acquired a new stake in shares of Ero Copper in the second quarter valued at approximately $31,201,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Ero Copper in the 2nd quarter worth $1,019,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Ero Copper in the 2nd quarter worth $39,000. Capstone Investment Advisors LLC purchased a new position in shares of Ero Copper during the 2nd quarter worth $374,000. Finally, Corient Private Wealth LP purchased a new position in shares of Ero Copper during the 2nd quarter worth $242,000. 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.