Ero Copper (NYSE:ERO) Stock Price Down 2.8%

Ero Copper Corp. (NYSE:ERO) traded down 2.8% during trading on Tuesday . The company traded as low as $21.30 and last traded at $21.41. 24,042 shares changed hands during trading, a decline of 93% from the average session volume of 346,538 shares. The stock had previously closed at $22.02.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group increased their price target on shares of Ero Copper from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Friday. Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a research report on Thursday, April 18th. Ventum Cap Mkts downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Scotiabank raised shares of Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 30th. Finally, BMO Capital Markets raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.00.

Ero Copper Trading Down 3.0 %

The company has a market cap of $2.20 billion, a P/E ratio of 33.88 and a beta of 1.19. The stock’s 50 day moving average is $21.60 and its 200-day moving average is $19.00. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

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

Institutional Investors Weigh In On Ero Copper

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acuitas Investments LLC increased its holdings in Ero Copper by 61.5% in the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock worth $33,000 after acquiring an additional 800 shares in the last quarter. Raymond James & Associates increased its holdings in Ero Copper by 2.7% in the 4th quarter. Raymond James & Associates now owns 50,551 shares of the company’s stock worth $798,000 after acquiring an additional 1,346 shares in the last quarter. Platinum Investment Management Ltd. increased its holdings in Ero Copper by 15.9% in the 1st quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock worth $362,000 after acquiring an additional 2,564 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Ero Copper by 3.2% in the 4th quarter. CIBC Asset Management Inc now owns 90,121 shares of the company’s stock worth $1,429,000 after acquiring an additional 2,772 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ero Copper by 21.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,656 shares of the company’s stock worth $328,000 after acquiring an additional 3,632 shares in the last quarter. Hedge funds and other institutional investors 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.