Ero Copper (NYSE:ERO) Downgraded by Stifel Canada to "Hold"

Key Points

• Ero Copper has been downgraded by Stifel Canada from a "strong-buy" to a "hold" rating, reflecting a general trend of recent downgrades from several analysts.
• The stock has a consensus rating of "hold" with a price target of $19.00 based on multiple ratings, with four analysts rating it as a Buy.
• Ero Copper reported earnings showing an EPS of $0.46 for the last quarter, surpassing estimates, while also experiencing a significant disparity in revenue compared to expectations.

Ero Copper (NYSE:ERO - Get Free Report) was downgraded by investment analysts at Stifel Canada from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

ERO has been the topic of several other research reports. Cibc World Mkts downgraded shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. Raymond James Financial reaffirmed an "outperform" rating on shares of Ero Copper in a research note on Friday, October 10th. Scotiabank downgraded shares of Ero Copper from an "outperform" rating to a "hold" rating in a research note on Tuesday, October 14th. National Bank Financial downgraded shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen downgraded shares of Ero Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Ero Copper has a consensus rating of "Hold" and a consensus price target of $19.00.

Ero Copper Price Performance

ERO stock opened at $20.73 on Tuesday. Ero Copper has a one year low of $9.30 and a one year high of $24.48. The company's fifty day moving average price is $17.71 and its 200-day moving average price is $15.22. 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 company has a market capitalization of $2.15 billion, a PE ratio of 15.13 and a beta of 1.24.

Ero Copper (NYSE:ERO - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.33 by $0.13. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. The firm had revenue of $163.50 million for the quarter, compared to the consensus estimate of $263.23 million. On average, equities analysts anticipate that Ero Copper will post 0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Acuitas Investments LLC bought a new position in Ero Copper during the first quarter valued at $39,000. Northwest & Ethical Investments L.P. increased its position in Ero Copper by 22.6% during the first quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company's stock valued at $97,000 after acquiring an additional 1,483 shares during the last quarter. Letko Brosseau & Associates Inc. bought a new position in Ero Copper during the first quarter valued at $176,000. Virtu Financial LLC bought a new position in Ero Copper during the first quarter valued at $180,000. Finally, XTX Topco Ltd bought a new position in Ero Copper during the first quarter valued at $188,000. 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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