Ero Copper (NYSE:ERO) Trading 7.8% Higher

Shares of Ero Copper Corp. (NYSE:ERO) rose 7.8% during mid-day trading on Friday . The stock traded as high as $20.67 and last traded at $20.57. Approximately 231,981 shares were traded during trading, a decline of 31% from the average daily volume of 334,838 shares. The stock had previously closed at $19.08.

Analyst Upgrades and Downgrades

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

Ero Copper Stock Up 8.1 %

The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65. The stock’s 50-day moving average price is $18.63 and its 200-day moving average price is $15.93. The company has a market cap of $2.12 billion, a P/E ratio of 21.04 and a beta of 1.26.

Ero Copper (NYSE:ERO) last issued 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 return on equity of 13.16% and a net margin of 21.71%. The firm had revenue of $116.41 million during the quarter, compared to the consensus estimate of $104.20 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. As a group, research analysts forecast that Ero Copper Corp. will post 1.6 EPS for the current year.

Hedge Funds Weigh In On Ero Copper

Hedge funds have recently bought and sold shares of the company. Timelo Investment Management Inc. bought a new position in shares of Ero Copper in the fourth quarter valued at approximately $987,000. Montrusco Bolton Investments Inc. grew its stake in Ero Copper by 245.2% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 642,010 shares of the company’s stock valued at $11,121,000 after purchasing an additional 456,033 shares during the period. Jennison Associates LLC increased its position in shares of Ero Copper by 4.9% during the 3rd quarter. Jennison Associates LLC now owns 3,544,861 shares of the company’s stock valued at $61,161,000 after purchasing an additional 165,982 shares during the last quarter. Impala Asset Management LLC raised its stake in shares of 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 purchasing an additional 344,410 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Ero Copper by 3.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 175,208 shares of the company’s stock worth $3,035,000 after buying an additional 6,631 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

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.