Ero Copper (NYSE:ERO) Shares Gap Down to $20.60

Ero Copper Corp. (NYSE:ERO)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $20.60, but opened at $19.99. Ero Copper shares last traded at $19.74, with a volume of 111,532 shares changing hands.

Analysts Set New Price Targets

ERO has been the topic of several analyst reports. Pi Financial lowered shares of Ero Copper from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $24.00.

Ero Copper Price Performance

The business’s fifty day moving average price is $18.10 and its 200 day moving average price is $15.78. 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 $2.05 billion, a P/E ratio of 20.36 and a beta of 1.26.

Ero Copper (NYSE:ERO) last released its quarterly earnings data 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 return on equity of 13.16% and a net margin of 21.71%. The company had revenue of $116.41 million for the quarter, compared to analyst estimates of $104.20 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. Sell-side analysts forecast that Ero Copper Corp. will post 1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Hedge funds have recently modified their holdings of the company. UBS Group AG raised its position in Ero Copper by 103.1% in the fourth quarter. UBS Group AG now owns 11,777 shares of the company’s stock valued at $162,000 after purchasing an additional 5,979 shares during the last quarter. Bank of America Corp DE raised its holdings in Ero Copper by 77.3% in the 4th quarter. Bank of America Corp DE now owns 10,854 shares of the company’s stock valued at $149,000 after buying an additional 4,732 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Ero Copper during the 4th quarter worth approximately $3,677,000. Credit Suisse AG grew its holdings in Ero Copper by 11.6% during the 4th quarter. Credit Suisse AG now owns 64,303 shares of the company’s stock worth $1,199,000 after acquiring an additional 6,676 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Ero Copper by 2.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 392,139 shares of the company’s stock valued at $5,395,000 after acquiring an additional 8,880 shares during the period. Institutional investors and hedge funds 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.