Ero Copper (NYSE:ERO) Posts Earnings Results

Key Points

• Ero Copper reported quarterly EPS of $1.22, beating the consensus estimate of $1.05 by $0.17. The company posted a 30.32% return on equity and a 29.79% net margin.
• Ero Copper shares closed at $29.06, with a market capitalization of approximately $3.03 billion and a P/E ratio of 9.75. The stock has traded between $19.09 and $40.83 over the past year.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $32.33; ratings range from Strong Buy to Sell.

Ero Copper (NYSE:ERO - Get Free Report) released its earnings results on Monday. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.17, Zacks reports. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%.

Ero Copper Trading Up 0.0%

NYSE:ERO traded up $0.01 during trading hours on Monday, hitting $29.06. The company had a trading volume of 1,844,579 shares, compared to its average volume of 1,447,155. Ero Copper has a 1 year low of $19.09 and a 1 year high of $40.83. The company has a market cap of $3.03 billion, a P/E ratio of 9.75, a P/E/G ratio of 0.26 and a beta of 1.32. The company has a 50-day moving average of $35.48 and a 200 day moving average of $30.68. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50.

Analyst Upgrades and Downgrades

Several analysts recently commented on ERO shares. TD Securities reiterated a "hold" rating on shares of Ero Copper in a research report on Friday, August 7th. Jefferies Financial Group restated a "hold" rating on shares of Ero Copper in a report on Monday, July 6th. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Ero Copper in a report on Wednesday, September 23rd. Bank of America raised shares of Ero Copper from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $30.00 to $34.00 in a research note on Thursday, July 16th. Finally, Zacks Research lowered shares of Ero Copper from a "hold" rating to a "strong sell" rating in a report on Monday, October 19th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $32.33.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company's principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.

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