Ero Copper (NYSE:ERO) Cut to Hold at Zacks Research

Ero Copper (NYSE:ERO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on the company. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research note on Monday, January 26th. Stifel Nicolaus lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. ATB Cormark Capital Markets raised shares of Ero Copper to a “moderate buy” rating in a report on Friday, February 6th. TD Cowen restated a “hold” rating on shares of Ero Copper in a research report on Tuesday, October 21st. Finally, Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Ero Copper Price Performance

NYSE:ERO opened at $30.70 on Thursday. The business’s 50-day simple moving average is $29.70 and its two-hundred day simple moving average is $22.61. Ero Copper has a 52 week low of $9.30 and a 52 week high of $39.80. The stock has a market cap of $3.20 billion, a PE ratio of 23.08 and a beta of 1.20. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds have recently bought and sold shares of ERO. FNY Investment Advisers LLC bought a new position in Ero Copper during the fourth quarter valued at $25,000. Kestra Advisory Services LLC purchased a new stake in shares of Ero Copper during the 4th quarter valued at about $56,000. Banque Cantonale Vaudoise bought a new position in shares of Ero Copper in the 3rd quarter valued at about $111,000. SG Americas Securities LLC purchased a new position in Ero Copper in the fourth quarter worth about $115,000. Finally, Shay Capital LLC bought a new stake in Ero Copper during the third quarter worth approximately $202,000. Hedge funds and other 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.