Ero Copper (NYSE:ERO) Announces Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Key Points

• Ero Copper reported Q results with $0.69 EPS, beating consensus $0.56 by $0.13, and showed strong profitability (return on equity 27.09% and net margin 33.56%).
• Despite the beat, shares traded down to $24.43 (down $0.78) on Monday; the company has a $2.55 billion market cap, a P/E of 9.62 and a 12‑month range of $12.56–$39.80.
• Institutional investors own about 71.3% of the stock, while analysts are mixed—the consensus rating is “Hold” with an average price target of $31.50.

Ero Copper (NYSE:ERO - Get Free Report) released its earnings results on Monday. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.13, Zacks reports. Ero Copper had a return on equity of 27.09% and a net margin of 33.56%.

Ero Copper Price Performance

Ero Copper stock traded down $0.78 during mid-day trading on Monday, reaching $24.43. 1,227,826 shares of the company were exchanged, compared to its average volume of 1,593,910. The company has a fifty day simple moving average of $28.34 and a 200-day simple moving average of $27.26. The firm has a market cap of $2.55 billion, a PE ratio of 9.62 and a beta of 1.13. Ero Copper has a 12 month low of $12.56 and a 12 month high of $39.80. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46.

Institutional Investors Weigh In On Ero Copper

Large investors have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC boosted its position in Ero Copper by 70.5% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 50,987 shares of the company's stock valued at $1,442,000 after buying an additional 21,078 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Ero Copper by 27.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 86,528 shares of the company's stock worth $1,442,000 after buying an additional 18,472 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Ero Copper by 4,939.2% during the 4th quarter. Wells Fargo & Company MN now owns 47,872 shares of the company's stock valued at $1,354,000 after acquiring an additional 46,922 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ero Copper by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 55,170 shares of the company's stock valued at $936,000 after acquiring an additional 1,823 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ero Copper by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,392 shares of the company's stock valued at $677,000 after acquiring an additional 4,847 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Canaccord Genuity Group upgraded Ero Copper from a "hold" rating to a "buy" rating in a research note on Wednesday, January 14th. Bank of America downgraded Ero Copper from a "buy" rating to a "neutral" rating in a research report on Monday, February 9th. ATB Cormark Capital Markets raised Ero Copper to a "moderate buy" rating in a research report on Friday, February 6th. Scotiabank reaffirmed an "outperform" rating on shares of Ero Copper in a research report on Monday, January 26th. Finally, The Goldman Sachs Group downgraded Ero Copper from a "buy" rating to a "neutral" rating and decreased their target price for the company from $33.00 to $31.00 in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $31.50.

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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