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

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

Several other equities research analysts also recently issued reports on the stock. Zacks Research downgraded shares of Ero Copper from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. TD Securities restated a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. Bradesco Corretora upgraded Ero Copper to an “outperform” rating in a research note on Monday, July 20th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Ero Copper Stock Performance

NYSE ERO traded down $0.94 on Friday, hitting $38.88. 1,232,212 shares of the stock were exchanged, compared to its average volume of 1,652,257. 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 business’s fifty day moving average is $29.70 and its 200 day moving average is $29.02. Ero Copper has a 52 week low of $13.91 and a 52 week high of $40.83. The company has a market capitalization of $4.06 billion, a PE ratio of 13.05, a P/E/G ratio of 0.32 and a beta of 1.21.

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

Institutional Investors Weigh In On Ero Copper

Institutional investors have recently made changes to their positions in the company. Corient Private Wealth LP lifted its holdings in Ero Copper by 4.0% during the 2nd 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 last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of 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 acquiring an additional 574 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Ero Copper by 3.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company’s stock valued at $933,000 after acquiring an additional 1,107 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Ero Copper during the fourth quarter worth about $38,000. Finally, PenderFund Capital Management Ltd. acquired a new position in Ero Copper in the 2nd quarter valued at approximately $39,000. 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.