Ero Copper (NYSE:ERO) Stock Price Down 3.8%

Ero Copper Corp. (NYSE:ERO)’s stock price fell 3.8% during trading on Monday . The company traded as low as $19.05 and last traded at $19.38. 139,849 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 324,474 shares. The stock had previously closed at $20.14.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ERO. TheStreet raised shares of Ero Copper from a “c” rating to a “b-” rating in a report on Friday, March 8th. Pi Financial raised shares of Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $24.00.

Ero Copper Stock Down 0.9 %

The stock’s fifty day moving average price is $18.46 and its 200 day moving average price is $15.88. The stock has a market cap of $1.98 billion, a P/E ratio of 19.62 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.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. The company had revenue of $116.41 million during the quarter, compared to the consensus estimate of $104.20 million. During the same period in the previous year, the company earned $0.24 EPS. As a group, research analysts forecast that Ero Copper Corp. will post 1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

Several institutional investors and hedge funds have recently made changes to their positions in ERO. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Ero Copper by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock valued at $35,715,000 after purchasing an additional 461,998 shares during the last quarter. Montrusco Bolton Investments Inc. grew its holdings in shares of Ero Copper by 245.2% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 642,010 shares of the company’s stock valued at $11,121,000 after purchasing an additional 456,033 shares during the last quarter. FMR LLC grew its holdings in shares of Ero Copper by 3.7% during the 3rd quarter. FMR LLC now owns 10,719,365 shares of the company’s stock valued at $184,832,000 after purchasing an additional 379,686 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Ero Copper during the 4th quarter valued at $5,763,000. Finally, Impala Asset Management LLC grew its holdings in shares of Ero Copper by 23.1% during the 3rd quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after purchasing an additional 344,410 shares during the last quarter. 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.