Ero Copper (NYSE:ERO) Trading 6.7% Higher - Still a Buy?

Ero Copper Corp. (NYSE:ERO - Get Free Report)'s stock price traded up 6.7% during mid-day trading on Thursday . The stock traded as high as $16.88 and last traded at $16.89. 67,553 shares changed hands during trading, a decline of 83% from the average session volume of 407,165 shares. The stock had previously closed at $15.83.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. BMO Capital Markets started coverage on Ero Copper in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. Raymond James Financial restated an "outperform" rating on shares of Ero Copper in a report on Friday, April 4th. National Bankshares upgraded shares of Ero Copper from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, May 6th. Wall Street Zen raised shares of Ero Copper from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Finally, TD Securities restated a "buy" rating on shares of Ero Copper in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $26.33.

Ero Copper Price Performance

The stock has a fifty day moving average of $14.09 and a 200 day moving average of $13.37. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 98.25 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ERO. Acuitas Investments LLC acquired a new stake in Ero Copper during the 1st quarter worth about $39,000. State of Wyoming acquired a new stake in Ero Copper during the fourth quarter worth about $76,000. Northwest & Ethical Investments L.P. grew its holdings in 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 acquiring an additional 1,050 shares during the period. TD Waterhouse Canada Inc. raised its position in Ero Copper by 128.4% during 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 in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Ero Copper by 59.5% in the fourth quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock valued at $144,000 after acquiring an additional 3,990 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.