Ero Copper (NYSE:ERO) Stock Price Down 3.9%

Ero Copper Corp. (NYSE:ERO)’s share price fell 3.9% on Thursday . The stock traded as low as $21.42 and last traded at $21.44. 53,528 shares changed hands during trading, a decline of 84% from the average session volume of 333,455 shares. The stock had previously closed at $22.32.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ERO. Ventum Cap Mkts raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. BMO Capital Markets raised Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 26th. Bank of America initiated coverage on Ero Copper in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, StockNews.com downgraded Ero Copper from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.00.

Ero Copper Stock Down 3.4 %

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. The company has a market cap of $2.22 billion, a P/E ratio of 34.31 and a beta of 1.19. The stock has a 50 day moving average price of $20.18 and a 200 day moving average price of $20.60.

Ero Copper (NYSE:ERO) last issued its earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $117.10 million for the quarter. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Research analysts expect that Ero Copper Corp. will post 1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently modified their holdings of ERO. Toronto Dominion Bank grew its holdings in shares of Ero Copper by 38.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after acquiring an additional 709 shares during the last quarter. Platinum Investment Management Ltd. acquired a new position in shares of Ero Copper in the 4th quarter worth $257,000. Chesapeake Capital Corp IL acquired a new position in shares of Ero Copper in the 2nd quarter worth $351,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 acquiring an additional 1,277 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Ero Copper by 28.2% in the 1st quarter. Janus Henderson Group PLC now owns 32,994 shares of the company’s stock worth $637,000 after acquiring an additional 7,257 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.