Ero Copper (NYSE:ERO) Shares Gap Down to $19.41

Ero Copper Corp. (NYSE:ERO)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $19.41, but opened at $18.86. Ero Copper shares last traded at $19.34, with a volume of 94,589 shares trading hands.

Analyst Upgrades and Downgrades

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

Ero Copper Trading Down 3.2 %

The business’s 50 day simple moving average is $18.55 and its 200 day simple moving average is $15.90. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.23 and a quick ratio of 0.94. The stock has a market cap of $1.91 billion, a P/E ratio of 18.99 and a beta of 1.26.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Timelo Investment Management Inc. bought a new position in Ero Copper in the 4th quarter worth approximately $987,000. Montrusco Bolton Investments Inc. raised its position in Ero Copper by 245.2% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 642,010 shares of the company’s stock worth $11,121,000 after purchasing an additional 456,033 shares during the last quarter. Jennison Associates LLC raised its position in Ero Copper by 4.9% in the 3rd quarter. Jennison Associates LLC now owns 3,544,861 shares of the company’s stock worth $61,161,000 after purchasing an additional 165,982 shares during the last quarter. Impala Asset Management LLC grew its holdings in Ero Copper by 23.1% during the 3rd quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock worth $31,661,000 after acquiring an additional 344,410 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in Ero Copper by 3.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 175,208 shares of the company’s stock worth $3,035,000 after acquiring an additional 6,631 shares during the period. 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.