Ero Copper (NYSE:ERO) Cut to “Hold” at Cibc World Mkts

Ero Copper (NYSE:ERO) was downgraded by research analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Zacks Research upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 30th. Wall Street Zen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, October 6th. Stifel Nicolaus began coverage on shares of Ero Copper in a research report on Wednesday, July 9th. They set a “buy” rating on the stock. Stifel Canada upgraded shares of Ero Copper to a “strong-buy” rating in a research report on Tuesday, July 8th. Finally, National Bankshares restated a “sector perform” rating on shares of Ero Copper in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Ero Copper Stock Down 5.3%

Ero Copper stock opened at $21.37 on Thursday. The stock has a market cap of $2.21 billion, a P/E ratio of 15.60 and a beta of 1.24. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. Ero Copper has a twelve month low of $9.30 and a twelve month high of $24.02. The company’s 50-day moving average price is $16.46 and its two-hundred day moving average price is $14.69.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.13. The firm had revenue of $163.50 million for the quarter, compared to analysts’ expectations of $263.23 million. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. As a group, analysts expect that Ero Copper will post 0.71 EPS 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 stake in shares of Ero Copper during the 1st quarter worth approximately $39,000. Northwest & Ethical Investments L.P. boosted its position in shares of 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 acquiring an additional 1,483 shares in the last quarter. Letko Brosseau & Associates Inc. acquired a new stake in shares of Ero Copper during the 1st quarter worth approximately $176,000. Virtu Financial LLC acquired a new stake in shares of Ero Copper during the 1st quarter worth approximately $180,000. Finally, XTX Topco Ltd acquired a new stake in shares of Ero Copper during the 1st quarter worth approximately $188,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.