Ero Copper (NYSE:ERO – Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13, Zacks reports. Ero Copper had a return on equity of 29.86% and a net margin of 31.63%.The business had revenue of $263.20 million for the quarter, compared to the consensus estimate of $245.51 million.
Ero Copper Stock Up 5.4%
Shares of ERO stock opened at $25.79 on Wednesday. Ero Copper has a 1-year low of $12.79 and a 1-year high of $39.80. The stock’s fifty day moving average price is $28.25 and its 200 day moving average price is $27.27. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 9.18 and a beta of 1.13.
Analysts Set New Price Targets
ERO has been the topic of a number of analyst reports. National Bank Financial upgraded Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday. Bank of America downgraded Ero Copper from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. ATB Cormark Capital Markets upgraded Ero Copper to a “moderate buy” rating in a report on Friday, February 6th. Zacks Research downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Finally, Canaccord Genuity Group upgraded Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Ero Copper presently has a consensus rating of “Moderate Buy” and an average target price of $31.50.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in ERO. Kestra Advisory Services LLC purchased a new position in Ero Copper during the 4th quarter worth $56,000. Banque Cantonale Vaudoise purchased a new position in Ero Copper during the 3rd quarter worth $111,000. Shay Capital LLC purchased a new position in Ero Copper during the 3rd quarter worth $202,000. Barclays PLC grew its stake in Ero Copper by 1,243.1% during the 4th quarter. Barclays PLC now owns 7,508 shares of the company’s stock worth $212,000 after buying an additional 6,949 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Ero Copper during the 1st quarter worth $217,000. 71.30% of the stock is currently owned by hedge funds and other institutional investors.
Ero Copper Company Profile
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.
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