Ero Copper (NYSE:ERO) Trading Up 6.3% - Still a Buy?

Ero Copper Corp. (NYSE:ERO - Get Free Report) shot up 6.3% during trading on Wednesday . The stock traded as high as $15.62 and last traded at $15.58. 110,770 shares traded hands during trading, a decline of 78% from the average session volume of 499,192 shares. The stock had previously closed at $14.65.

Analyst Ratings Changes

Several brokerages recently issued reports on ERO. TD Securities reaffirmed a "buy" rating on shares of Ero Copper in a research report on Wednesday, May 7th. BMO Capital Markets started coverage on Ero Copper in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. National Bank Financial raised Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. TD Cowen upgraded Ero Copper from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. Finally, National Bankshares upgraded Ero Copper from a "sector perform" rating to an "outperform" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $26.33.

Ero Copper Stock Up 0.1%

The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. The firm's 50-day simple moving average is $12.50 and its 200 day simple moving average is $13.32. The company has a market capitalization of $1.65 billion, a PE ratio of 93.65 and a beta of 1.13.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.17 by $0.18. The business had revenue of $125.10 million for the quarter, compared to analyst estimates of $179.45 million. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. As a group, equities research analysts forecast that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Ero Copper

Several large investors have recently made changes to their positions in ERO. GMT Capital Corp grew its holdings in Ero Copper by 22.9% during the 1st quarter. GMT Capital Corp now owns 6,931,025 shares of the company's stock valued at $83,938,000 after purchasing an additional 1,292,100 shares in the last quarter. Invesco Ltd. grew its holdings in Ero Copper by 22.6% during the 4th 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ero Copper by 2.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,607,517 shares of the company's stock worth $43,689,000 after acquiring an additional 80,359 shares in the last quarter. 683 Capital Management LLC grew its holdings in Ero Copper by 20.4% during the 4th quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company's stock worth $33,272,000 after acquiring an additional 418,367 shares in the last quarter. Finally, Boston Partners grew its holdings in Ero Copper by 66.9% during the 4th quarter. Boston Partners now owns 1,101,265 shares of the company's stock worth $14,850,000 after acquiring an additional 441,413 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company's stock.

About Ero Copper

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.