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

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

A number of equities research analysts recently commented on the company. Scotiabank restated an "outperform" rating on shares of Ero Copper in a research report on Tuesday. Stifel Nicolaus started coverage on Ero Copper in a research report on Wednesday. They set a "buy" rating on the stock. National Bank Financial cut Ero Copper from an "outperform" rating to a "sector perform" rating in a report on Wednesday. Wall Street Zen upgraded shares of Ero Copper from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Finally, Desjardins assumed coverage on shares of Ero Copper in a research note on Friday, April 4th. They issued a "hold" rating for the company. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $26.33.

Ero Copper Stock Performance

The business has a fifty day moving average of $14.94 and a 200-day moving average of $13.55. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.55 billion, a PE ratio of 88.22 and a beta of 1.18.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.35 earnings per share (EPS) 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 business had revenue of $125.10 million for the quarter, compared to analysts' expectations of $179.45 million. Equities research analysts anticipate that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

Several institutional investors and hedge funds have recently modified their holdings of ERO. Acuitas Investments LLC purchased a new stake in shares of Ero Copper in the first quarter valued at approximately $39,000. State of Wyoming acquired a new position in Ero Copper in the fourth quarter valued at approximately $76,000. Northwest & Ethical Investments L.P. lifted its holdings in Ero Copper by 19.1% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company's stock valued at $88,000 after acquiring an additional 1,050 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in Ero Copper by 128.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company's stock valued at $143,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in 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. 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.

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