Ero Copper (NYSE:ERO) Stock Price Down 2.3% - Here's Why

Ero Copper Corp. (NYSE:ERO - Get Free Report) shares traded down 2.3% during mid-day trading on Tuesday . The company traded as low as $10.59 and last traded at $10.66. 20,230 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 396,577 shares. The stock had previously closed at $10.91.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TD Securities upgraded Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. BMO Capital Markets started coverage on Ero Copper in a report on Wednesday. They issued an "outperform" rating on the stock. Desjardins assumed coverage on shares of Ero Copper in a report on Friday, April 4th. They set a "hold" rating for the company. TD Cowen raised shares of Ero Copper from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. Finally, Raymond James reiterated an "outperform" rating on shares of Ero Copper in a research report on Friday, April 4th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $26.33.

Ero Copper Trading Down 0.0 %

The company has a market capitalization of $1.13 billion, a P/E ratio of 64.26 and a beta of 1.10. The company has a fifty day simple moving average of $12.24 and a two-hundred day simple moving average of $14.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45.

Ero Copper (NYSE:ERO - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.04). Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. The company had revenue of $122.50 million for the quarter, compared to the consensus estimate of $183.26 million. On average, analysts forecast that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Institutional Trading of Ero Copper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERO. Invesco Ltd. grew its stake in shares of Ero Copper by 22.6% in the fourth quarter. Invesco Ltd. now owns 3,890,977 shares of the company's stock worth $52,450,000 after acquiring an additional 715,999 shares during the last quarter. Bridgewater Associates LP increased its holdings in shares of Ero Copper by 400.2% during the 4th quarter. Bridgewater Associates LP now owns 818,269 shares of the company's stock worth $11,026,000 after purchasing an additional 654,684 shares during the period. Boston Partners raised its position in shares of Ero Copper by 66.9% during the fourth quarter. Boston Partners now owns 1,101,265 shares of the company's stock valued at $14,850,000 after buying an additional 441,413 shares during the last quarter. 683 Capital Management LLC lifted its stake in shares of Ero Copper by 20.4% in the fourth quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company's stock valued at $33,272,000 after buying an additional 418,367 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Ero Copper during the fourth quarter worth about $3,509,000. 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.