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

StockNews.com cut shares of Ero Copper (NYSE:ERO) from a hold rating to a sell rating in a research report sent to investors on Saturday.

ERO has been the subject of several other reports. BMO Capital Markets raised Ero Copper from a market perform rating to an outperform rating in a research note on Wednesday, June 26th. TheStreet raised Ero Copper from a c rating to a b- rating in a report on Friday, March 8th. Scotiabank raised shares of Ero Copper from a sector perform rating to a sector outperform rating in a report on Thursday, May 30th. Pi Financial raised shares of Ero Copper from a neutral rating to a buy rating in a research report on Thursday, April 18th. Finally, Jefferies Financial Group initiated coverage on shares of Ero Copper in a research note on Friday, May 3rd. They set a hold rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold.

Ero Copper Price Performance

ERO stock opened at $21.76 on Friday. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.38. The company has a market cap of $2.25 billion, a PE ratio of 33.48 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. The stock has a 50-day moving average price of $21.20 and a two-hundred day moving average price of $18.62.

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

Hedge Funds Weigh In On Ero Copper

Hedge funds and other institutional investors have recently bought and sold shares of the company. Impala Asset Management LLC grew its position in Ero Copper by 23.1% during the third quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after buying an additional 344,410 shares during the period. Public Sector Pension Investment Board grew its holdings in shares of Ero Copper by 3.9% during the third quarter. Public Sector Pension Investment Board now owns 175,208 shares of the company’s stock worth $3,035,000 after purchasing an additional 6,631 shares in the last quarter. Raymond James & Associates raised 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Ero Copper by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock valued at $35,715,000 after purchasing an additional 461,998 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ero Copper by 21.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,656 shares of the company’s stock valued at $328,000 after buying an additional 3,632 shares in the last quarter. Institutional investors and hedge funds 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.