Ero Copper (NYSE:ERO) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Ero Copper (NYSE:ERO) announced its quarterly earnings data on Tuesday. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09), Zacks reports. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. The business had revenue of $177.10 million during the quarter, compared to analyst estimates of $309.30 million.

Ero Copper Trading Down 3.2%

ERO opened at $19.96 on Wednesday. The firm’s fifty day moving average is $19.07 and its two-hundred day moving average is $16.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05. The firm has a market cap of $2.07 billion, a PE ratio of 14.57 and a beta of 1.24. Ero Copper has a twelve month low of $9.30 and a twelve month high of $24.48.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ERO shares. Wall Street Zen lowered shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Tuesday, October 14th. Cibc World Mkts lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. The Goldman Sachs Group increased their price objective on shares of Ero Copper from $18.50 to $25.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Stifel Canada lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, TD Cowen restated a “hold” rating on shares of Ero Copper in a report on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $25.00.

Institutional Investors Weigh In On Ero Copper

Several hedge funds have recently bought and sold shares of ERO. Dynamic Technology Lab Private Ltd acquired a new stake in Ero Copper in the first quarter worth $217,000. Empowered Funds LLC acquired a new stake in shares of Ero Copper during the first quarter worth $356,000. Man Group plc acquired a new stake in shares of Ero Copper during the second quarter worth $365,000. Orion Resource Partners LP acquired a new stake in shares of Ero Copper during the second quarter worth $742,000. Finally, Geode Capital Management LLC raised its holdings in shares of Ero Copper by 3.4% during the second quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock worth $936,000 after acquiring an additional 1,823 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.