Ero Copper (NYSE:ERO) Trading Up 6.3% – Here’s Why

Ero Copper Corp. (NYSE:ERO)’s stock price traded up 6.3% during mid-day trading on Thursday . The stock traded as high as $39.80 and last traded at $38.3630. 3,343,201 shares were traded during trading, an increase of 45% from the average session volume of 2,300,784 shares. The stock had previously closed at $36.10.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ERO shares. Stifel Nicolaus lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group increased their price objective on shares of Ero Copper from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Ventum Cap Mkts upgraded shares of Ero Copper to a “strong-buy” rating in a report on Monday, November 3rd. Freedom Capital upgraded Ero Copper to a “strong-buy” rating in a report on Tuesday, December 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ero Copper in a research note on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Ero Copper Stock Down 11.8%

The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46. The stock has a fifty day moving average price of $28.16 and a two-hundred day moving average price of $21.37. The company has a market cap of $3.50 billion, a P/E ratio of 25.23 and a beta of 1.22.

Ero Copper (NYSE:ERO) last posted its earnings results on Tuesday, November 4th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.09). The firm had revenue of $177.10 million for the quarter, compared to the consensus estimate of $309.30 million. Ero Copper had a return on equity of 17.07% and a net margin of 23.44%. On average, research analysts expect that Ero Copper Corp. will post 0.71 EPS for the current year.

Institutional Trading of Ero Copper

A number of large investors have recently added to or reduced their stakes in ERO. GMT Capital Corp increased its stake in shares of Ero Copper by 7.7% during the 2nd quarter. GMT Capital Corp now owns 7,467,055 shares of the company’s stock worth $125,865,000 after purchasing an additional 536,030 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Ero Copper by 5.0% during the 2nd quarter. Jennison Associates LLC now owns 5,487,290 shares of the company’s stock valued at $92,651,000 after buying an additional 259,830 shares during the last quarter. Invesco Ltd. lifted its holdings in Ero Copper by 24.8% during the third quarter. Invesco Ltd. now owns 2,553,915 shares of the company’s stock valued at $51,666,000 after purchasing an additional 507,217 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Ero Copper by 77.6% in the fourth quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock valued at $72,051,000 after purchasing an additional 1,112,428 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ero Copper by 11.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock valued at $50,794,000 after buying an additional 250,303 shares during the period. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Company Profile

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.