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

Key Points

• Ero Copper's stock has been downgraded from a "buy" to a "hold" rating by analysts at Wall Street Zen.
• Despite the downgrade, Ero Copper holds an average rating of "Moderate Buy" with a target price of $23.50 and has received mixed ratings from various analysts.
• The company's latest quarterly earnings showed an EPS of $0.46, exceeding estimates, though revenue was below expectations at $163.50 million.

Wall Street Zen lowered shares of Ero Copper (NYSE:ERO - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday.

ERO has been the topic of several other reports. TD Securities restated a "buy" rating on shares of Ero Copper in a research note on Wednesday, May 7th. Stifel Nicolaus assumed coverage on Ero Copper in a research note on Wednesday, July 9th. They issued a "buy" rating on the stock. Raymond James Financial upgraded Ero Copper to a "moderate buy" rating in a research report on Monday, June 30th. National Bankshares reiterated a "sector perform" rating on shares of Ero Copper in a research note on Tuesday, August 5th. Finally, Stifel Canada raised Ero Copper to a "strong-buy" rating in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Ero Copper currently has an average rating of "Moderate Buy" and an average target price of $23.50.

Ero Copper Stock Up 2.3%

Shares of NYSE:ERO traded up $0.32 during mid-day trading on Friday, hitting $14.04. 273,024 shares of the company traded hands, compared to its average volume of 568,920. The stock has a market cap of $1.45 billion, a P/E ratio of 10.27 and a beta of 1.16. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. Ero Copper has a 12-month low of $9.30 and a 12-month high of $23.40. The stock has a 50-day moving average price of $15.09 and a two-hundred day moving average price of $13.57.

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

Institutional Trading of Ero Copper

Large investors have recently made changes to their positions in the company. Acuitas Investments LLC acquired a new position in shares of Ero Copper in the 1st quarter valued at $39,000. State of Wyoming purchased a new position in Ero Copper during the 4th quarter worth approximately $76,000. 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 buying an additional 1,483 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in Ero Copper by 128.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company's stock worth $143,000 after acquiring an additional 6,000 shares during the period. Finally, Deutsche Bank AG lifted its position 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 acquiring an additional 3,990 shares during the period. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

About Ero Copper

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.