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Ero Copper (NYSE:ERO) Shares Up 6.7% - Here's What Happened

Ero Copper logo with Basic Materials background

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. National Bankshares upgraded Ero Copper from a "sector perform" rating to an "outperform" rating in a report on Tuesday, May 6th. Desjardins assumed coverage on Ero Copper in a report on Friday, April 4th. They issued a "hold" rating for the company. TD Securities reissued a "buy" rating on shares of Ero Copper in a research report on Wednesday, May 7th. Raymond James Financial reissued an "outperform" rating on shares of Ero Copper in a research report on Friday, April 4th. Finally, Wall Street Zen raised Ero Copper from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. One analyst has rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $26.33.

Get Our Latest Stock Analysis on Ero Copper

Ero Copper Stock Down 2.7%

The company has a 50-day moving average of $14.21 and a 200-day moving average of $13.38. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 17.29 and a beta of 1.13. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83.

Ero Copper (NYSE:ERO - Get Free Report) last announced its earnings results 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 company had revenue of $125.10 million for the quarter, compared to analyst estimates of $179.45 million. On average, equities analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Acuitas Investments LLC acquired a new position in shares of Ero Copper in the first quarter valued at about $39,000. State of Wyoming acquired a new position in shares of Ero Copper in the fourth quarter valued at about $76,000. Northwest & Ethical Investments L.P. increased its holdings in shares of 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 purchasing an additional 1,050 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of 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 purchasing an additional 6,000 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of 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 purchasing an additional 3,990 shares during the period. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Company Profile

(Get Free Report)

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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