Ero Copper (NYSE:ERO) Shares Down 7.5%

Ero Copper Corp. (NYSE:ERO – Get Rating)’s stock price traded down 7.5% on Wednesday . The stock traded as low as $16.64 and last traded at $16.74. 67,660 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 106,005 shares. The stock had previously closed at $18.09.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. National Bank Financial lifted their target price on shares of Ero Copper from C$21.00 to C$22.00 in a report on Monday, February 13th. StockNews.com initiated coverage on shares of Ero Copper in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Stifel Nicolaus initiated coverage on shares of Ero Copper in a research report on Thursday, May 18th. They issued a “hold” rating for the company.

Ero Copper Stock Performance

The stock’s fifty day moving average is $18.37 and its two-hundred day moving average is $15.90. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 21.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.80 and a current ratio of 3.04.

Ero Copper (NYSE:ERO – Get Rating) last released its quarterly earnings results on Tuesday, March 7th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The firm had revenue of $116.70 million for the quarter, compared to analyst estimates of $103.00 million. Ero Copper had a net margin of 17.65% and a return on equity of 14.30%. Analysts forecast that Ero Copper Corp. will post 1.21 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GMT Capital Corp boosted its stake in Ero Copper by 60.4% during the 4th quarter. GMT Capital Corp now owns 6,046,825 shares of the company’s stock valued at $83,186,000 after purchasing an additional 2,276,264 shares during the period. Acadian Asset Management LLC boosted its stake in Ero Copper by 3,250.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,207,456 shares of the company’s stock valued at $21,309,000 after purchasing an additional 1,171,422 shares during the period. Jennison Associates LLC boosted its stake in Ero Copper by 33.9% during the 4th quarter. Jennison Associates LLC now owns 3,198,537 shares of the company’s stock valued at $43,997,000 after purchasing an additional 809,184 shares during the period. Frontier Capital Management Co. LLC acquired a new position in Ero Copper during the 1st quarter valued at about $10,194,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Ero Copper by 142.4% in the 1st quarter. Principal Financial Group Inc. now owns 930,200 shares of the company’s stock worth $16,434,000 after acquiring an additional 546,400 shares during the period. 47.09% of the stock is currently owned by institutional investors.

Ero Copper Company Profile

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Ero Copper Corp. engages in the exploration, development, and mining of mineral properties in Brazil. It also produces and sells copper, gold, silver products. The company was founded on May 16, 2016 and is headquartered in Vancouver, Canada.