Ero Copper (NYSE:ERO) Issues Earnings Results

Ero Copper (NYSE:ERO) released its quarterly earnings data on Monday. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.17, Zacks reports. Ero Copper had a return on equity of 38.98% and a net margin of 32.21%. The company had revenue of $348.00 million for the quarter, compared to analyst estimates of $342.91 million.

Ero Copper Stock Up 0.8%

NYSE ERO traded up $0.23 on Wednesday, reaching $30.67. The company had a trading volume of 482,032 shares, compared to its average volume of 1,444,507. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 0.26 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. Ero Copper has a 1-year low of $19.09 and a 1-year high of $40.83. The company’s fifty day moving average is $35.11 and its 200-day moving average is $30.68.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Ero Copper in a research note on Wednesday, September 23rd. Bank of America raised Ero Copper from a “neutral” rating to a “buy” rating and lifted their target price for the company from $30.00 to $34.00 in a research note on Thursday, July 16th. TD Securities reaffirmed a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Bradesco Corretora cut Ero Copper from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 2nd. Finally, Weiss Ratings downgraded shares of Ero Copper from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $32.33.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company’s principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.