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

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

Several other research firms have also issued reports on ERO. Scotiabank lowered Ero Copper from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, October 13th. Zacks Research upgraded shares of Ero Copper from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 15th. Weiss Ratings raised shares of Ero Copper from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Bradesco Corretora downgraded shares of Ero Copper from an “outperform” rating to a “neutral” rating in a research report on Wednesday, September 2nd. Finally, Jefferies Financial Group restated 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, five have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, Ero Copper presently has a consensus rating of “Moderate Buy” and an average price target of $32.33.

Ero Copper Stock Up 0.8%

Shares of NYSE:ERO opened at $34.44 on Friday. 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 fifty day simple moving average of $36.12 and a two-hundred day simple moving average of $30.82. Ero Copper has a 12-month low of $19.09 and a 12-month high of $40.83. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.27 and a beta of 1.27.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Kercheville Advisors LLC purchased a new stake in Ero Copper during the third quarter valued at $295,000. TD Waterhouse Canada Inc. lifted its holdings in Ero Copper by 881.8% in the third quarter. TD Waterhouse Canada Inc. now owns 113,421 shares of the company’s stock valued at $4,043,000 after acquiring an additional 101,869 shares during the period. Sanders Morris Harris LLC bought a new position in Ero Copper in the third quarter valued at about $807,000. Artemis Investment Management LLP lifted its holdings in Ero Copper by 34.3% in the third quarter. Artemis Investment Management LLP now owns 893,832 shares of the company’s stock valued at $32,837,000 after acquiring an additional 228,194 shares during the period. Finally, Engineers Gate Manager LP boosted its position in Ero Copper by 0.8% in the second quarter. Engineers Gate Manager LP now owns 37,573 shares of the company’s stock worth $1,005,000 after purchasing an additional 285 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

About Ero Copper

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.