Ero Copper (NYSE:ERO) Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Ero Copper (NYSE:ERO) from a hold rating to a sell rating in a report issued on Friday.

ERO has been the topic of several other research reports. Pi Financial raised Ero Copper from a neutral rating to a buy rating in a research report on Thursday, April 18th. Ventum Cap Mkts cut Ero Copper from a strong-buy rating to a hold rating in a research report on Tuesday, May 28th. BMO Capital Markets raised Ero Copper from a market perform rating to an outperform rating in a research report on Wednesday, June 26th. Scotiabank raised Ero Copper from a sector perform rating to a sector outperform rating in a research report on Thursday, May 30th. Finally, Jefferies Financial Group boosted their price objective on Ero Copper from $29.00 to $32.00 and gave the stock a hold rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Ero Copper currently has a consensus rating of Hold and an average price target of $32.00.

Ero Copper Trading Down 0.9 %

Shares of Ero Copper stock opened at $19.61 on Friday. The stock has a fifty day simple moving average of $21.52 and a 200 day simple moving average of $19.13. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.38. The company has a market capitalization of $2.02 billion, a P/E ratio of 30.17 and a beta of 1.19. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11. Ero Copper had a return on equity of 10.68% and a net margin of 14.23%. The business had revenue of $105.80 million during the quarter, compared to the consensus estimate of $104.40 million. On average, sell-side analysts anticipate that Ero Copper will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ERO. Raymond James & Associates lifted its position in shares of Ero Copper by 2.7% during the 4th quarter. Raymond James & Associates now owns 50,551 shares of the company’s stock valued at $798,000 after buying an additional 1,346 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ero Copper by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock valued at $35,715,000 after buying an additional 461,998 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ero Copper by 21.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,656 shares of the company’s stock worth $328,000 after purchasing an additional 3,632 shares in the last quarter. Acuitas Investments LLC lifted its holdings in Ero Copper by 61.5% during the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock worth $33,000 after purchasing an additional 800 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Ero Copper by 42.8% during the 4th quarter. Russell Investments Group Ltd. now owns 753,091 shares of the company’s stock worth $11,892,000 after purchasing an additional 225,566 shares in the last quarter. Hedge funds and other institutional investors 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.