Ero Copper (NYSE:ERO) Stock Price Up 6.8%

Ero Copper Corp. (NYSE:ERO)’s stock price rose 6.8% during mid-day trading on Tuesday . The stock traded as high as $22.82 and last traded at $22.72. Approximately 91,604 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 332,721 shares. The stock had previously closed at $21.28.

Analyst Upgrades and Downgrades

ERO has been the subject of a number of research reports. Jefferies Financial Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Bank of America began coverage on shares of Ero Copper in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price objective on the stock. StockNews.com downgraded shares of Ero Copper from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Scotiabank raised Ero Copper from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Ero Copper Price Performance

The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $19.82 and a two-hundred day moving average of $20.39. The firm has a market cap of $2.32 billion, a P/E ratio of 34.58 and a beta of 1.19.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $117.10 million for the quarter. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. During the same quarter in the prior year, the company posted $0.24 EPS. Sell-side analysts expect that Ero Copper Corp. will post 1.75 EPS for the current year.

Institutional Investors Weigh In On Ero Copper

Several institutional investors have recently added to or reduced their stakes in ERO. Toronto Dominion Bank lifted its stake in shares of Ero Copper by 38.7% during the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after buying an additional 709 shares during the last quarter. National Bank of Canada FI increased its position in Ero Copper by 1.4% during the 2nd quarter. National Bank of Canada FI now owns 58,271 shares of the company’s stock worth $1,238,000 after buying an additional 793 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ero Copper by 6.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock worth $469,000 after buying an additional 1,277 shares in the last quarter. Platinum Investment Management Ltd. boosted its position in shares of Ero Copper by 15.9% in the first quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock valued at $362,000 after acquiring an additional 2,564 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of Ero Copper by 3.2% in the fourth quarter. CIBC Asset Management Inc now owns 90,121 shares of the company’s stock valued at $1,429,000 after acquiring an additional 2,772 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

Ero Copper Company Profile

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.