Ero Copper (NYSE:ERO) Shares Down 6.9% - What's Next?

Ero Copper Corp. (NYSE:ERO - Get Free Report) traded down 6.9% on Wednesday . The stock traded as low as $14.90 and last traded at $14.67. 136,088 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 425,625 shares. The stock had previously closed at $15.76.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Scotiabank reaffirmed an "outperform" rating on shares of Ero Copper in a report on Tuesday. Stifel Canada raised Ero Copper to a "strong-buy" rating in a report on Tuesday. Wall Street Zen downgraded Ero Copper from a "strong-buy" rating to a "buy" rating in a research report on Saturday. National Bank Financial downgraded Ero Copper from an "outperform" rating to a "sector perform" rating in a research report on Wednesday. Finally, Stifel Nicolaus initiated coverage on Ero Copper in a research report on Wednesday. They set a "buy" rating for the company. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Ero Copper presently has an average rating of "Moderate Buy" and a consensus target price of $26.33.

Ero Copper Trading Up 2.3%

The firm has a fifty day simple moving average of $14.99 and a 200-day simple moving average of $13.56. The firm has a market cap of $1.56 billion, a P/E ratio of 88.83 and a beta of 1.18. 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 announced its quarterly earnings results on Monday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 return on equity of 14.24% and a net margin of 3.87%. On average, equities research analysts expect that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acuitas Investments LLC bought a new position in shares of Ero Copper in the first quarter valued at approximately $39,000. State of Wyoming bought a new position in shares of Ero Copper in the fourth quarter valued at approximately $76,000. Northwest & Ethical Investments L.P. lifted 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 in the last quarter. TD Waterhouse Canada Inc. lifted 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 in the last quarter. Finally, Deutsche Bank AG lifted 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 in the last quarter. Institutional investors 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.