Ero Copper (NYSE:ERO) Shares Gap Down to $20.60

Ero Copper Corp. (NYSE:ERO) gapped down before the market opened on Tuesday . The stock had previously closed at $20.60, but opened at $19.99. Ero Copper shares last traded at $19.74, with a volume of 111,532 shares changing hands.

Analysts Set New Price Targets

ERO has been the subject of a number of recent research reports. TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a research report on Friday, March 8th. Pi Financial cut shares of Ero Copper from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.00.

Ero Copper Trading Down 0.6 %

The company has a market cap of $2.05 billion, a P/E ratio of 20.36 and a beta of 1.26. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average is $18.10 and its 200-day moving average is $15.78.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. The business had revenue of $116.41 million during the quarter, compared to the consensus estimate of $104.20 million. During the same period last year, the company posted $0.24 earnings per share. Research analysts anticipate that Ero Copper Corp. will post 1.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kapitalo Investimentos Ltda bought a new stake in shares of Ero Copper in the fourth quarter worth approximately $5,763,000. Goldman Sachs Group Inc. raised its stake in Ero Copper by 52.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 695,823 shares of the company’s stock valued at $10,987,000 after buying an additional 240,461 shares during the last quarter. FIL Ltd lifted its holdings in shares of Ero Copper by 105.5% during the 4th quarter. FIL Ltd now owns 4,883,502 shares of the company’s stock valued at $77,212,000 after buying an additional 2,507,239 shares during the period. Impala Asset Management LLC boosted its stake in shares of Ero Copper by 17.1% in the 4th quarter. Impala Asset Management LLC now owns 2,150,870 shares of the company’s stock worth $33,331,000 after buying an additional 314,360 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Ero Copper by 5.7% during the fourth quarter. Legal & General Group Plc now owns 64,806 shares of the company’s stock valued at $1,030,000 after acquiring an additional 3,500 shares during the last quarter. Institutional investors own 71.30% of the company’s stock.

About Ero Copper

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.