Ero Copper (NYSE:ERO) Announces Earnings Results

Ero Copper (NYSE:EROGet Free Report) released its quarterly earnings results on Wednesday. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09, Zacks reports. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%.

Ero Copper Stock Up 5.0%

Shares of NYSE ERO traded up $1.45 during mid-day trading on Wednesday, hitting $30.45. The company had a trading volume of 1,270,495 shares, compared to its average volume of 831,735. The company has a market capitalization of $3.18 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 0.23 and a beta of 1.21. The firm has a 50-day simple moving average of $27.32 and a two-hundred day simple moving average of $28.61. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. Ero Copper has a one year low of $13.37 and a one year high of $39.80.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. National Bank Financial raised Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Finally, Bradesco Corretora upgraded Ero Copper to an “outperform” rating in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Ero Copper has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Check Out Our Latest Analysis on ERO

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ERO. Kestra Advisory Services LLC bought a new position in Ero Copper in the fourth quarter valued at approximately $56,000. Banque Cantonale Vaudoise bought a new stake in shares of Ero Copper during the 3rd quarter worth approximately $111,000. Shay Capital LLC acquired a new stake in shares of Ero Copper in the 3rd quarter valued at approximately $202,000. Barclays PLC boosted its holdings in shares of Ero Copper by 1,243.1% in the 4th quarter. Barclays PLC now owns 7,508 shares of the company’s stock valued at $212,000 after buying an additional 6,949 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Ero Copper in the first quarter valued at $217,000. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Company Profile

(Get Free Report)

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.

See Also

Earnings History for Ero Copper (NYSE:ERO)

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