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

Key Points

• Ero Copper has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, amidst mixed ratings from other analysts.
• The company reported earnings of $0.46 per share, exceeding expectations, but its revenue of $163.5 million fell short of the anticipated $263.23 million.
• Despite recent downgrades, Ero Copper maintains a consensus rating of "Moderate Buy" with an average price target of $19.00.

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

ERO has been the subject of several other reports. Stifel Nicolaus initiated coverage on Ero Copper in a research report on Wednesday, July 9th. They set a "buy" rating for the company. Scotiabank reaffirmed an "outperform" rating on shares of Ero Copper in a research note on Tuesday, July 8th. Stifel Canada raised Ero Copper to a "strong-buy" rating in a research note on Tuesday, July 8th. National Bankshares reissued a "sector perform" rating on shares of Ero Copper in a research note on Tuesday, August 5th. Finally, Raymond James Financial raised Ero Copper to a "moderate buy" rating in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Ero Copper currently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Ero Copper Stock Performance

NYSE ERO opened at $18.66 on Friday. The company has a market cap of $1.93 billion, a P/E ratio of 13.62 and a beta of 1.16. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05. The business's 50 day moving average price is $14.99 and its 200-day moving average price is $14.14. Ero Copper has a fifty-two week low of $9.30 and a fifty-two week high of $23.40.

Ero Copper (NYSE:ERO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.13. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%.The company had revenue of $163.50 million during the quarter, compared to analysts' expectations of $263.23 million. Sell-side analysts predict that Ero Copper will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Ero Copper

Institutional investors and hedge funds have recently modified their holdings of the company. Acuitas Investments LLC purchased a new stake in shares of Ero Copper in the 1st quarter valued at $39,000. Northwest & Ethical Investments L.P. grew its stake in Ero Copper by 22.6% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company's stock worth $97,000 after purchasing an additional 1,483 shares in the last quarter. Deutsche Bank AG grew its stake in Ero Copper by 59.5% during the 4th quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock worth $144,000 after purchasing an additional 3,990 shares in the last quarter. Letko Brosseau & Associates Inc. acquired a new position in shares of Ero Copper during the 1st quarter worth about $176,000. Finally, Virtu Financial LLC acquired a new position in shares of Ero Copper during the 1st quarter worth about $180,000. Hedge funds and other institutional investors own 71.30% of the company's stock.

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.

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