Ero Copper Corp. (NYSE:ERO – Get Free Report) rose 6.6% during mid-day trading on Friday . The company traded as high as $29.84 and last traded at $29.5350. Approximately 670,618 shares changed hands during trading, a decline of 57% from the average daily volume of 1,547,272 shares. The stock had previously closed at $27.70.
Analyst Upgrades and Downgrades
ERO has been the topic of a number of analyst reports. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. Wall Street Zen lowered shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, The Goldman Sachs Group lowered shares of Ero Copper from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.50.
Check Out Our Latest Stock Analysis on ERO
Ero Copper Stock Performance
Ero Copper (NYSE:ERO – Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The business had revenue of $263.20 million for the quarter, compared to the consensus estimate of $245.51 million. As a group, equities analysts forecast that Ero Copper Corp. will post 3.92 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Ero Copper
A number of hedge funds have recently made changes to their positions in ERO. FNY Investment Advisers LLC purchased a new position in shares of Ero Copper in the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ero Copper in the 4th quarter valued at $38,000. Kestra Advisory Services LLC purchased a new position in shares of Ero Copper in the 4th quarter valued at $56,000. Banque Cantonale Vaudoise purchased a new position in shares of Ero Copper in the 3rd quarter valued at $111,000. Finally, SG Americas Securities LLC purchased a new position in shares of Ero Copper in the 4th quarter valued at $115,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.
About Ero Copper
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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