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

StockNews.com downgraded shares of Ero Copper (NYSE:ERO) from a hold rating to a sell rating in a research note published on Saturday morning.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group initiated coverage on shares of Ero Copper in a research report on Friday, May 3rd. They issued a hold rating for the company. Scotiabank raised shares of Ero Copper from a sector perform rating to a sector outperform rating in a research 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. Ventum Cap Mkts lowered shares of Ero Copper from a strong-buy rating to a hold rating in a report on Tuesday, May 28th. Finally, TheStreet raised shares of Ero Copper from a c rating to a b- rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold.

Ero Copper Stock Performance

NYSE:ERO opened at $21.38 on Friday. The firm has a 50 day simple moving average of $21.11 and a 200-day simple moving average of $18.52. 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 firm has a market cap of $2.21 billion, a PE ratio of 32.89 and a beta of 1.20. Ero Copper has a 1-year low of $11.35 and a 1-year high of $24.38.

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

Hedge Funds Weigh In On Ero Copper

Several large investors have recently bought and sold shares of ERO. Jennison Associates LLC increased its stake in Ero Copper by 39.0% during the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after buying an additional 1,121,095 shares during the period. Boston Partners grew its stake in shares of Ero Copper by 226.9% in the 1st quarter. Boston Partners now owns 726,068 shares of the company’s stock worth $14,010,000 after purchasing an additional 503,972 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake 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 purchasing an additional 461,998 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Ero Copper in the 4th quarter worth approximately $5,763,000. Finally, Impala Asset Management LLC grew 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 purchasing an additional 344,410 shares during the last quarter. Institutional investors and hedge funds 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.