Ero Copper Corp. (NYSE:ERO - Get Free Report) was the target of unusually large options trading on Wednesday. Stock investors acquired 6,012 call options on the stock. This represents an increase of 593% compared to the typical daily volume of 868 call options.
Wall Street Analyst Weigh In
Several analysts have recently commented on ERO shares. Wall Street Zen raised shares of Ero Copper from a "hold" rating to a "buy" rating in a research report on Saturday. BMO Capital Markets restated an "outperform" rating on shares of Ero Copper in a research note on Friday, July 4th. Scotiabank restated an "outperform" rating on shares of Ero Copper in a research note on Tuesday, July 8th. National Bankshares restated a "sector perform" rating on shares of Ero Copper in a research note on Tuesday, August 5th. Finally, Raymond James Financial upgraded shares of Ero Copper to a "moderate buy" rating in a research note on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.
Check Out Our Latest Report on ERO
Ero Copper Stock Up 8.0%
Shares of ERO stock traded up $1.38 on Wednesday, reaching $18.73. 801,373 shares of the stock were exchanged, compared to its average volume of 587,217. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The business's 50 day moving average price is $14.73 and its 200 day moving average price is $14.01. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 13.67 and a beta of 1.16. Ero Copper has a twelve month low of $9.30 and a twelve month high of $23.40.
Ero Copper (NYSE:ERO - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.13. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. The firm had revenue of $163.50 million during the quarter, compared to the consensus estimate of $263.23 million. As a group, sell-side analysts expect that Ero Copper will post 0.71 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Ero Copper
Several large investors have recently bought and sold shares of the stock. GMT Capital Corp boosted its stake in Ero Copper by 7.7% in the second quarter. GMT Capital Corp now owns 7,467,055 shares of the company's stock valued at $125,865,000 after acquiring an additional 536,030 shares in the last quarter. Jennison Associates LLC boosted its stake in Ero Copper by 5.0% in the second quarter. Jennison Associates LLC now owns 5,487,290 shares of the company's stock valued at $92,651,000 after acquiring an additional 259,830 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ero Copper by 2.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,607,517 shares of the company's stock valued at $43,689,000 after acquiring an additional 80,359 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Ero Copper by 82.6% in the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company's stock valued at $29,919,000 after buying an additional 803,320 shares during the last quarter. Finally, Impala Asset Management LLC raised its holdings in shares of Ero Copper by 3.0% in the second quarter. Impala Asset Management LLC now owns 1,699,100 shares of the company's stock valued at $28,494,000 after buying an additional 49,199 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company's stock.
About Ero Copper
(
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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