Ero Copper (NYSE:ERO) Lowered to “Sell” at StockNews.com

Ero Copper (NYSE:ERO) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other equities research analysts have also recently issued reports on the stock. Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a research report on Thursday, April 18th. BMO Capital Markets raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday. Ventum Cap Mkts lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Scotiabank upgraded Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 30th. Finally, Jefferies Financial Group assumed coverage on Ero Copper in a report on Friday, May 3rd. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.00.

Ero Copper Trading Down 1.7 %

ERO stock opened at $21.38 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average is $21.11 and its 200 day moving average is $18.48. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 32.89 and a beta of 1.20. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.38.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. Ero Copper had a net margin of 14.23% and a return on equity of 10.68%. The firm had revenue of $105.80 million for the quarter, compared to analyst estimates of $104.40 million. On average, sell-side analysts anticipate that Ero Copper will post 1.7 EPS for the current fiscal year.

Institutional Trading of Ero Copper

Several hedge funds have recently modified their holdings of ERO. Acuitas Investments LLC lifted its position in shares of Ero Copper by 61.5% during the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock worth $33,000 after purchasing an additional 800 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Ero Copper during the 4th quarter worth about $79,000. Platinum Investment Management Ltd. purchased a new position in shares of Ero Copper in the 4th quarter valued at about $257,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ero Copper by 21.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,656 shares of the company’s stock worth $328,000 after acquiring an additional 3,632 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Ero Copper during the fourth quarter worth approximately $356,000. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Company Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.