Ero Copper (NYSE:ERO) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Ero Copper from “buy” to “hold,” while analyst sentiment remains “Moderate Buy” overall with an average price target of $32.33. Zacks Research issued a stronger “sell” downgrade, though several firms maintained positive or hold ratings.
• Ero Copper shares fell 2.4% to $38.88, near the company’s 52-week high of $40.83. The company recently exceeded quarterly expectations, reporting earnings of $0.83 per share versus the $0.74 consensus and revenue of $284.3 million.
• Institutional investors own 71.3% of the stock, with major holders including FIL Ltd., Vanguard and Invesco increasing their positions. Ero Copper operates the Vale do Curaçá copper-mining complex in Brazil.

Ero Copper (NYSE:ERO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other analysts also recently commented on ERO. Zacks Research downgraded Ero Copper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 17th. Jefferies Financial Group reiterated a "hold" rating on shares of Ero Copper in a report on Monday, July 6th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Ero Copper in a research report on Thursday, June 4th. Scotiabank reissued an "outperform" rating on shares of Ero Copper in a research note on Monday, June 15th. Finally, Bradesco Corretora upgraded shares of Ero Copper to an "outperform" rating in a report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.33.

Ero Copper Trading Down 2.4%

Shares of Ero Copper stock traded down $0.94 during trading on Friday, hitting $38.88. 1,232,212 shares of the company were exchanged, compared to its average volume of 1,652,257. The firm has a market capitalization of $4.06 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 0.32 and a beta of 1.21. Ero Copper has a 1-year low of $13.91 and a 1-year high of $40.83. The firm's fifty day moving average price is $29.70 and its 200 day moving average price is $29.02. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.09. The business had revenue of $284.30 million for the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. As a group, sell-side analysts expect that Ero Copper will post 3.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. FIL Ltd raised its position in Ero Copper by 74.1% in the 4th quarter. FIL Ltd now owns 11,670,422 shares of the company's stock valued at $330,161,000 after buying an additional 4,966,427 shares during the last quarter. Invesco Ltd. grew its stake in shares of Ero Copper by 10.7% during the 4th quarter. Invesco Ltd. now owns 2,827,385 shares of the company's stock worth $79,987,000 after acquiring an additional 273,470 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Ero Copper by 77.6% in the fourth quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company's stock worth $72,051,000 after purchasing an additional 1,112,428 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ero Copper by 11.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company's stock worth $50,794,000 after purchasing an additional 250,303 shares in the last quarter. Finally, Cape Ann Asset Management Ltd boosted its holdings in Ero Copper by 13.5% during the first quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company's stock worth $51,983,000 after purchasing an additional 231,485 shares during the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

About Ero Copper

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.

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