StockNews.com Lowers Ero Copper (NYSE:ERO) to Sell

Ero Copper (NYSE:ERO) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other equities analysts have also recently commented on the stock. Ventum Cap Mkts cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Jefferies Financial Group started coverage on shares of Ero Copper in a report on Friday, May 3rd. They issued a “hold” rating on the stock. Scotiabank raised Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 30th. Pi Financial upgraded Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, TheStreet raised Ero Copper from a “c” rating to a “b-” rating in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.00.

Ero Copper Stock Performance

Shares of ERO opened at $21.38 on Friday. Ero Copper has a 1 year low of $11.35 and a 1 year high of $24.38. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60. The stock’s fifty day moving average price is $21.11 and its two-hundred day moving average price is $18.48. The firm has a market cap of $2.21 billion, a PE ratio of 32.89 and a beta of 1.20.

Ero Copper (NYSE:ERO) last posted its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.11. The firm had revenue of $105.80 million during the quarter, compared to the consensus estimate of $104.40 million. Ero Copper had a net margin of 14.23% and a return on equity of 10.68%. On average, equities research analysts forecast that Ero Copper will post 1.7 EPS for the current year.

Institutional Trading of Ero Copper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC boosted its position in shares of Ero Copper by 39.0% during the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after purchasing an additional 1,121,095 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ero Copper by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock worth $35,715,000 after buying an additional 461,998 shares during the period. Impala Asset Management LLC increased its stake in shares of Ero Copper by 23.1% in the 3rd quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock worth $31,661,000 after acquiring an additional 344,410 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its position in Ero Copper by 31.7% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock valued at $13,435,000 after acquiring an additional 203,613 shares during the period. Finally, Fiera Capital Corp boosted its stake in Ero Copper by 24.1% during the fourth quarter. Fiera Capital Corp now owns 785,104 shares of the company’s stock worth $12,454,000 after acquiring an additional 152,245 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Company Profile

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.