Ero Copper (NYSE:ERO) Shares Up 6% – Still a Buy?

Ero Copper Corp. (NYSE:ERO)’s stock price shot up 6% during trading on Tuesday . The stock traded as high as $36.36 and last traded at $36.7690. Approximately 551,956 shares changed hands during trading, a decline of 62% from the average daily volume of 1,460,820 shares. The stock had previously closed at $34.70.

Wall Street Analyst Weigh In

ERO has been the subject of several recent research reports. Wall Street Zen cut shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a report on Tuesday, September 1st. Bradesco Corretora cut shares of Ero Copper from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 2nd. TD Securities reissued a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Finally, Freedom Broker downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.33.

Ero Copper Price Performance

The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 0.31 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The business has a 50 day moving average price of $32.95 and a 200-day moving average price of $29.48.

Ero Copper (NYSE:ERO) last released its earnings results on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%.The business had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. Research analysts predict that Ero Copper Corp. will post 3.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Ero Copper during the fourth quarter valued at about $38,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Ero Copper in the 2nd quarter valued at about $39,000. Banque Cantonale Vaudoise grew its stake in shares of Ero Copper by 20.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,000 shares of the company’s stock valued at $239,000 after buying an additional 1,500 shares during the period. Corient Private Wealth LP bought a new stake in Ero Copper in the 2nd quarter valued at about $242,000. Finally, Themes Management Co LLC acquired a new position in Ero Copper during the 1st quarter worth approximately $255,000. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper and associated mineral products. The company’s operations are located in Brazil, where it produces copper concentrate and may recover gold and other byproducts from its mineral deposits.

Ero Copper’s principal assets include the Caraíba Operations in the state of Bahia and the Tucumã Project in the state of Pará. Caraíba is an established copper mining complex that includes underground and open-pit mines, processing facilities and related infrastructure.