Ero Copper (NYSE:ERO) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Ero Copper from “buy” to “hold,” even though the broader analyst consensus still sits at a “Moderate Buy” with an average target price of $31.50.
• The company recently beat expectations in its latest quarterly report, posting EPS of $0.69 versus $0.56 expected and revenue of $263.2 million versus $245.5 million anticipated.
• Ero Copper’s shares were trading at $28.52, with the stock showing a market cap of $2.97 billion and a P/E ratio of 10.15; institutional investors continue to hold a large majority of the stock at 71.3% ownership.

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 research report issued on Saturday.

ERO has been the subject of a number of other reports. Scotiabank reissued an "outperform" rating on shares of Ero Copper in a report on Monday, January 26th. Canaccord Genuity Group raised Ero Copper from a "hold" rating to a "buy" rating in a report on Wednesday, January 14th. Raymond James Financial lowered Ero Copper from a "moderate buy" rating to a "hold" rating in a report on Monday, February 9th. ATB Cormark Capital Markets raised Ero Copper to a "moderate buy" rating in a report on Friday, February 6th. Finally, National Bank Financial raised Ero Copper from a "sector perform" rating to an "outperform" rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.50.

Ero Copper Stock Performance

Shares of ERO opened at $28.52 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. The stock has a 50 day moving average price of $28.04 and a two-hundred day moving average price of $27.34. The firm has a market capitalization of $2.97 billion, a P/E ratio of 10.15 and a beta of 1.13. Ero Copper has a 52 week low of $12.79 and a 52 week high of $39.80.

Ero Copper (NYSE:ERO - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.13. The firm had revenue of $263.20 million during the quarter, compared to analyst estimates of $245.51 million. Ero Copper had a return on equity of 29.86% and a net margin of 31.63%. Equities analysts forecast that Ero Copper will post 4.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. boosted its stake in shares of Ero Copper by 2.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company's stock worth $503,000 after buying an additional 380 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Ero Copper by 3.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company's stock worth $513,000 after buying an additional 574 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Ero Copper in the 4th quarter worth approximately $25,000. Public Employees Retirement System of Ohio boosted its stake in shares of Ero Copper by 3.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company's stock worth $933,000 after buying an additional 1,107 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Ero Copper in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 71.30% of the company's stock.

Ero Copper Company Profile

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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