Ero Copper (NYSE:ERO) Trading 6.8% Higher

Shares of Ero Copper Corp. (NYSE:ERO) shot up 6.8% on Tuesday . The company traded as high as $22.82 and last traded at $22.72. 91,604 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 332,721 shares. The stock had previously closed at $21.28.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Scotiabank raised Ero Copper from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 30th. Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Bank of America began coverage on Ero Copper in a research note on Tuesday, September 3rd. They set a “buy” rating and a $28.00 price target on the stock. BMO Capital Markets upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 26th. Finally, Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Ero Copper Stock Up 5.5 %

The stock’s fifty day moving average is $19.82 and its two-hundred day moving average is $20.39. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. 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 results on Thursday, August 1st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. The business had revenue of $117.10 million during the quarter. During the same period in the prior year, the firm earned $0.24 EPS. As a group, research analysts anticipate that Ero Copper Corp. will post 1.75 earnings per share for the current year.

Institutional Investors Weigh In On Ero Copper

Institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank boosted its position in Ero Copper by 38.7% during the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after buying an additional 709 shares during the period. Platinum Investment Management Ltd. bought a new position in Ero Copper in the 4th quarter worth $257,000. Chesapeake Capital Corp IL bought a new position in Ero Copper in the 2nd quarter worth $351,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ero Copper by 6.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock worth $469,000 after purchasing an additional 1,277 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Ero Copper by 28.2% during the 1st quarter. Janus Henderson Group PLC now owns 32,994 shares of the company’s stock valued at $637,000 after purchasing an additional 7,257 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

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.