Zacks Research Downgrades Ero Copper (NYSE:ERO) to Strong Sell

Ero Copper (NYSE:ERO) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Bradesco Corretora upgraded shares of Ero Copper to an “outperform” rating in a research report on Monday, July 20th. Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. 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. TD Securities reiterated a “hold” rating on shares of Ero Copper in a report on Friday, August 7th. Finally, Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th. 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.33.

Ero Copper Stock Performance

ERO stock opened at $33.00 on Monday. Ero Copper has a 1-year low of $13.37 and a 1-year high of $39.80. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $28.24 and a 200-day moving average price of $28.76. The firm has a market cap of $3.44 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 0.27 and a beta of 1.21.

Ero Copper (NYSE:ERO) last released its earnings results on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. The business 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%. As a group, equities research analysts expect that Ero Copper will post 4.02 earnings per share for the current year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently bought and sold shares of ERO. Caitong International Asset Management Co. Ltd purchased a new position in Ero Copper during the fourth quarter worth about $38,000. PenderFund Capital Management Ltd. bought a new position in shares of Ero Copper in the second quarter valued at approximately $39,000. Kestra Advisory Services LLC purchased a new stake in shares of Ero Copper during the fourth quarter valued at approximately $56,000. Banque Cantonale Vaudoise purchased a new stake in shares of Ero Copper during the third quarter valued at approximately $111,000. Finally, Shay Capital LLC bought a new stake in Ero Copper during the third quarter worth $202,000. 71.30% of the stock is owned by hedge funds and other 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.