Ero Copper (NYSE:ERO) Stock Price Up 6.5% – What’s Next?

Ero Copper Corp. (NYSE:ERO) traded up 6.5% during mid-day trading on Friday . The company traded as high as $32.89 and last traded at $32.93. 2,156,260 shares were traded during mid-day trading, an increase of 11% from the average session volume of 1,938,065 shares. The stock had previously closed at $30.93.

Analysts Set New Price Targets

ERO has been the topic of a number of recent research reports. Stifel Nicolaus lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Ventum Cap Mkts raised Ero Copper to a “strong-buy” rating in a research note on Monday, November 3rd. Scotiabank raised Ero Copper from a “hold” rating to an “outperform” rating in a research note on Thursday, November 6th. Zacks Research upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Finally, TD Securities downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Ero Copper Trading Up 6.2%

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 24.69 and a beta of 1.22. The business’s 50 day moving average price is $26.55 and its two-hundred day moving average price is $20.55.

Ero Copper (NYSE:ERO) last released 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 business had revenue of $177.10 million for the quarter, compared to analyst estimates of $309.30 million. Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. Equities analysts forecast that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Institutional Trading of Ero Copper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GMT Capital Corp grew its holdings in shares of Ero Copper by 7.7% during the second quarter. GMT Capital Corp now owns 7,467,055 shares of the company’s stock worth $125,865,000 after buying an additional 536,030 shares in the last quarter. Jennison Associates LLC boosted its stake 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 worth $92,651,000 after acquiring an additional 259,830 shares during the period. Invesco Ltd. boosted its holdings in shares of Ero Copper by 24.8% during the 3rd quarter. Invesco Ltd. now owns 2,553,915 shares of the company’s stock worth $51,666,000 after buying an additional 507,217 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ero Copper by 11.1% in the 3rd 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 in the last quarter. Finally, Bank of America Corp DE increased its position in Ero Copper by 82.6% during the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock worth $29,919,000 after acquiring an additional 803,320 shares during the period. 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.