Ero Copper (NYSE:ERO) Lowered to “Strong Sell” Rating by Zacks Research

Ero Copper (NYSE:ERO) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also recently commented on ERO. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Bradesco Corretora raised shares of Ero Copper to an “outperform” rating in a research note on Monday, July 20th. Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a research note on Monday, July 6th. TD Securities reaffirmed a “hold” rating on shares of Ero Copper in a report on Friday, August 7th. Finally, Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $30.00 to $34.00 in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ero Copper presently has an average rating of “Moderate Buy” and an average price target of $32.33.

Ero Copper Trading Down 5.5%

Shares of Ero Copper stock opened at $33.00 on Monday. The firm has a 50-day moving average of $28.24 and a 200-day moving average of $28.76. The stock has a market cap of $3.44 billion, a PE ratio of 11.07, a PEG ratio of 0.27 and a beta of 1.21. Ero Copper has a 52-week low of $13.37 and a 52-week high of $39.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%.The business had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. As a group, sell-side analysts forecast that Ero Copper will post 4.02 EPS for the current year.

Hedge Funds Weigh In On Ero Copper

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Ero Copper during the fourth quarter valued at $38,000. PenderFund Capital Management Ltd. bought a new stake in shares of Ero Copper in the second quarter worth $39,000. Kestra Advisory Services LLC acquired a new stake in Ero Copper in the fourth quarter valued at $56,000. Banque Cantonale Vaudoise acquired a new stake in Ero Copper in the third quarter valued at $111,000. Finally, Barclays PLC raised its position in Ero Copper by 1,243.1% during the 4th quarter. Barclays PLC now owns 7,508 shares of the company’s stock worth $212,000 after purchasing an additional 6,949 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.