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

Key Points

• Wall Street Zen downgraded Ero Copper from buy to hold, adding to a mixed analyst backdrop that currently totals a Moderate Buy consensus and a price target of $31.50.
• Shares rose 2.3% to $25.62 on Friday, leaving the stock below both its 50-day and 200-day moving averages.
• The company recently beat quarterly expectations, reporting $0.69 EPS versus $0.56 expected and revenue of $263.2 million versus $245.51 million forecast.

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

Several other research firms have also recently commented on ERO. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Ero Copper in a research report on Thursday, June 4th. National Bank Financial upgraded shares of Ero Copper from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, May 5th. The Goldman Sachs Group downgraded shares of Ero Copper from a "buy" rating to a "neutral" rating and dropped their price target for the company from $33.00 to $31.00 in a report on Tuesday, April 14th. Scotiabank reiterated an "outperform" rating on shares of Ero Copper in a research note on Monday, June 15th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of Ero Copper in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $31.50.

Ero Copper Stock Up 2.3%

Shares of NYSE:ERO traded up $0.56 during trading on Friday, reaching $25.62. 495,102 shares of the stock traded hands, compared to its average volume of 1,180,069. The stock has a market cap of $2.67 billion, a P/E ratio of 9.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The stock has a 50-day moving average of $27.87 and a two-hundred day moving average of $28.94. 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 released its quarterly earnings data on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.13. Ero Copper had a return on equity of 27.33% and a net margin of 31.63%.The business had revenue of $263.20 million for the quarter, compared to analysts' expectations of $245.51 million. As a group, sell-side analysts expect that Ero Copper will post 4.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently made changes to their positions in ERO. FIL Ltd grew its position in Ero Copper by 74.1% during the fourth 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 period. Hillsdale Investment Management Inc. boosted its stake in shares of Ero Copper by 602.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company's stock worth $47,767,000 after acquiring an additional 1,445,645 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ero Copper by 1,614.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company's stock worth $29,056,000 after acquiring an additional 1,350,738 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Ero Copper by 4,913.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company's stock valued at $26,000,000 after acquiring an additional 955,487 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Ero Copper by 82.6% during the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company's stock valued at $29,919,000 after acquiring an additional 803,320 shares during the period. 71.30% of the stock is currently owned by institutional investors.

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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