Ero Copper (NYSE:ERO) Stock Gets Downgrade from Wall Street Zen

Ero Copper (NYSE:ERO) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also recently weighed in on ERO. Freedom Broker cut Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Weiss Ratings raised shares of Ero Copper from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a research note on Monday, July 6th. TD Securities reiterated a “hold” rating on shares of Ero Copper in a research report on Friday, August 7th. Finally, Zacks Research raised shares of Ero Copper from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.33.

Ero Copper Trading Down 0.2%

Shares of Ero Copper stock opened at $34.09 on Friday. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 0.27 and a beta of 1.27. Ero Copper has a fifty-two week low of $19.09 and a fifty-two week high of $40.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The stock has a 50 day moving average of $36.17 and a 200 day moving average of $30.77.

Ero Copper (NYSE:ERO) last posted its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. The company had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. As a group, research analysts predict that Ero Copper will post 4.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ERO. Cape Ann Asset Management Ltd grew its stake in shares of Ero Copper by 13.5% in the first quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock valued at $51,983,000 after buying an additional 231,485 shares in the last quarter. Artemis Investment Management LLP raised its holdings in shares of Ero Copper by 34.3% in the 3rd quarter. Artemis Investment Management LLP now owns 893,832 shares of the company’s stock valued at $32,837,000 after buying an additional 228,194 shares during the period. Impala Asset Management LLC acquired a new position in Ero Copper during the 2nd quarter worth about $31,201,000. Kapitalo Investimentos Ltda acquired a new position in Ero Copper during the 2nd quarter worth about $28,802,000. Finally, Dimensional Fund Advisors LP lifted its stake in Ero Copper by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 986,385 shares of the company’s stock worth $26,298,000 after acquiring an additional 28,231 shares in the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper, gold and other mineral resources in Brazil. The company is headquartered in Vancouver, British Columbia, and its shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol ERO.

Ero Copper’s principal assets include the Caraíba Mining Complex in the state of Bahia, which produces copper, and the NX Gold operation in Mato Grosso, which produces gold.