Ero Copper (NYSE:ERO) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Ero Copper (NYSE:ERO) from a buy rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other analysts also recently weighed in on ERO. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $34.00 in a research report on Thursday, July 16th. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. TD Securities reaffirmed a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ero Copper currently has a consensus rating of “Moderate Buy” and an average target price of $32.33.

Ero Copper Trading Down 4.2%

NYSE ERO opened at $37.19 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The stock’s 50-day simple moving average is $29.83 and its two-hundred day simple moving average is $29.05. Ero Copper has a twelve month low of $13.91 and a twelve month high of $40.83. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 0.31 and a beta of 1.21.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. Research analysts forecast that Ero Copper will post 3.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERO. Corient Private Wealth LP boosted its holdings in shares of Ero Copper by 4.0% during the second quarter. Corient Private Wealth LP now owns 9,046 shares of the company’s stock worth $242,000 after purchasing an additional 348 shares during the period. Pictet Asset Management Holding SA grew its stake in Ero Copper by 3.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company’s stock worth $513,000 after purchasing an additional 574 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Ero Copper by 3.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company’s stock worth $933,000 after purchasing an additional 1,107 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Ero Copper in the fourth quarter worth $38,000. Finally, PenderFund Capital Management Ltd. purchased a new position in Ero Copper during the second quarter valued at $39,000. 71.30% of the stock is currently owned by institutional investors.

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.