Ero Copper (NYSE:ERO) Sees Unusually-High Trading Volume - What's Next?

Shares of Ero Copper Corp. (NYSE:ERO - Get Free Report) saw unusually-high trading volume on Friday . Approximately 914,298 shares changed hands during trading, an increase of 108% from the previous session's volume of 439,381 shares.The stock last traded at $15.08 and had previously closed at $14.76.

Analyst Upgrades and Downgrades

ERO has been the topic of a number of recent analyst reports. National Bank Financial cut Ero Copper from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 9th. BMO Capital Markets reiterated an "outperform" rating on shares of Ero Copper in a research note on Friday, July 4th. National Bankshares cut Ero Copper from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, July 8th. Stifel Nicolaus assumed coverage on Ero Copper in a research note on Wednesday, July 9th. They set a "buy" rating on the stock. Finally, TD Securities restated a "buy" rating on shares of Ero Copper in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $23.50.

Ero Copper Stock Down 2.9%

The stock has a 50 day moving average of $15.03 and a 200-day moving average of $13.57. The firm has a market capitalization of $1.52 billion, a P/E ratio of 86.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05.

Ero Copper (NYSE:ERO - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.18. Ero Copper had a return on equity of 14.24% and a net margin of 3.87%. The firm had revenue of $125.10 million for the quarter, compared to analysts' expectations of $179.45 million. Research analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Acuitas Investments LLC purchased a new position in shares of Ero Copper during the first quarter worth about $39,000. State of Wyoming purchased a new position in shares of Ero Copper during the fourth quarter worth about $76,000. Northwest & Ethical Investments L.P. grew its holdings in shares of Ero Copper by 19.1% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company's stock worth $88,000 after purchasing an additional 1,050 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Ero Copper by 128.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company's stock worth $143,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Ero Copper by 59.5% during the fourth quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock worth $144,000 after purchasing an additional 3,990 shares in the last quarter. 71.30% of the stock is currently owned by 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.