Ero Copper (NYSE:ERO) Lowered to Hold Rating by Raymond James Financial

Ero Copper (NYSE:ERO) was downgraded by equities researchers at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

ERO has been the topic of a number of other reports. Loop Capital set a $32.00 price target on shares of Ero Copper in a research report on Tuesday, December 30th. Wall Street Zen lowered Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Ero Copper in a research note on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Ero Copper in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ero Copper presently has an average rating of “Moderate Buy” and an average price target of $32.50.

Ero Copper Price Performance

ERO opened at $31.73 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $3.31 billion, a P/E ratio of 23.86 and a beta of 1.20. The stock has a 50-day moving average price of $29.25 and a 200-day moving average price of $22.26. Ero Copper has a 12-month low of $9.30 and a 12-month high of $39.80.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new stake in shares of Ero Copper in the fourth quarter worth approximately $25,000. Banque Cantonale Vaudoise purchased a new position in shares of Ero Copper in the third quarter worth $111,000. SG Americas Securities LLC bought a new position in shares of Ero Copper during the fourth quarter worth $115,000. Shay Capital LLC bought a new position in shares of Ero Copper during the third quarter worth $202,000. Finally, Versor Investments LP purchased a new position in Ero Copper during the third quarter valued at $217,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

About Ero Copper

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.