Ero Copper (NYSE:ERO) Stock Rating Lowered by Zacks Research

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

Other research analysts have also issued research reports about the company. Scotiabank lowered Ero Copper from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, October 13th. Bradesco Corretora downgraded Ero Copper from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 2nd. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Ero Copper in a report on Wednesday, September 23rd. Weiss Ratings raised Ero Copper from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.33.

Ero Copper Trading Down 4.6%

ERO opened at $32.84 on Monday. Ero Copper has a 1-year low of $19.09 and a 1-year high of $40.83. 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 company has a market cap of $3.43 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 0.27 and a beta of 1.27. The company has a fifty day moving average price of $36.06 and a two-hundred day moving average price of $30.86.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $284.30 million for 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%. Analysts predict that Ero Copper will post 4.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kapitalo Investimentos Ltda raised its holdings in shares of Ero Copper by 0.5% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 1,082,320 shares of the company’s stock worth $39,710,000 after acquiring an additional 5,624 shares during the last quarter. Genesee Capital Advisors LLC acquired a new position in Ero Copper during the 3rd quarter valued at about $337,000. Kercheville Advisors LLC acquired a new position in Ero Copper during the 3rd quarter valued at about $295,000. TD Waterhouse Canada Inc. boosted its stake in Ero Copper by 881.8% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 113,421 shares of the company’s stock valued at $4,043,000 after purchasing an additional 101,869 shares during the last quarter. Finally, Sanders Morris Harris LLC bought a new stake in Ero Copper during the 3rd quarter worth approximately $807,000. 71.30% of the stock is owned by institutional investors.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company’s principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.