Ero Copper (NYSE:ERO) Stock Rating Lowered by Freedom Broker

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

Several other equities research analysts have also commented on the stock. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and upped their price target for the company from $30.00 to $34.00 in a report on Thursday, July 16th. Zacks Research cut Ero Copper from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Bradesco Corretora downgraded Ero Copper from an “outperform” rating to a “neutral” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a report on Tuesday. Finally, TD Securities reiterated a “hold” rating on shares of Ero Copper in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ero Copper has an average rating of “Hold” and a consensus target price of $32.33.

Ero Copper Stock Up 1.5%

ERO stock opened at $35.29 on Thursday. The company has a market capitalization of $3.68 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 0.28 and a beta of 1.27. Ero Copper has a 12 month low of $14.35 and a 12 month high of $40.83. The firm’s fifty day simple moving average is $30.31 and its 200-day simple moving average is $29.14. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81.

Ero Copper (NYSE:ERO) last issued 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. The firm had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. As a group, equities research analysts forecast that Ero Copper will post 3.98 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LP grew its stake in Ero Copper by 4.0% in the 2nd quarter. Corient Private Wealth LP now owns 9,046 shares of the company’s stock valued at $242,000 after acquiring an additional 348 shares during the period. Pictet Asset Management Holding SA raised its position in Ero Copper by 3.3% during 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 period. Public Employees Retirement System of Ohio lifted its holdings in Ero Copper by 3.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company’s stock valued at $933,000 after purchasing an additional 1,107 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Ero Copper during the fourth quarter valued at $38,000. Finally, PenderFund Capital Management Ltd. acquired a new stake in shares of Ero Copper in the second quarter valued at about $39,000. 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.