Ero Copper (NYSE:ERO) Shares Gap Down to $19.41

Ero Copper Corp. (NYSE:ERO) gapped down prior to trading on Tuesday . The stock had previously closed at $19.41, but opened at $18.86. Ero Copper shares last traded at $19.34, with a volume of 94,589 shares.

Analyst Ratings Changes

Several equities research analysts recently commented on ERO shares. Pi Financial raised shares of Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. TheStreet raised shares of Ero Copper from a “c” rating to a “b-” rating in a report on Friday, March 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Ero Copper has an average rating of “Hold” and a consensus target price of $24.00.

Ero Copper Stock Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.94 and a current ratio of 1.23. The firm’s 50 day simple moving average is $18.55 and its 200-day simple moving average is $15.90. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 18.99 and a beta of 1.26.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, March 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. The business had revenue of $116.41 million for the quarter, compared to analyst estimates of $104.20 million. During the same period last year, the firm earned $0.24 EPS. On average, sell-side analysts predict that Ero Copper Corp. will post 1.48 EPS for the current year.

Institutional Investors Weigh In On Ero Copper

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERO. Mackenzie Financial Corp increased its stake in shares of Ero Copper by 9.5% during the third quarter. Mackenzie Financial Corp now owns 40,093 shares of the company’s stock worth $691,000 after buying an additional 3,468 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ero Copper by 6.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,785,920 shares of the company’s stock worth $30,937,000 after buying an additional 104,436 shares during the period. CIBC Asset Management Inc boosted its holdings in Ero Copper by 10.3% in the third quarter. CIBC Asset Management Inc now owns 87,349 shares of the company’s stock valued at $1,511,000 after purchasing an additional 8,165 shares in the last quarter. Jennison Associates LLC boosted its holdings in Ero Copper by 4.9% in the third quarter. Jennison Associates LLC now owns 3,544,861 shares of the company’s stock valued at $61,161,000 after purchasing an additional 165,982 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Ero Copper in the third quarter valued at approximately $131,000. 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.