Ero Copper (NYSE:ERO) Shares Gap Down to $20.60

Ero Copper Corp. (NYSE:ERO - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $20.60, but opened at $19.99. Ero Copper shares last traded at $19.74, with a volume of 111,532 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Pi Financial lowered shares of Ero Copper from a "buy" rating to a "neutral" rating in a report on Friday, March 8th. TheStreet upgraded shares of Ero Copper from a "c" rating to a "b-" rating in a report on Friday, March 8th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $24.00.

Ero Copper Price Performance

The stock has a market cap of $2.06 billion, a PE ratio of 20.50 and a beta of 1.26. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65. The company's 50 day moving average is $18.01 and its 200-day moving average is $15.75.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $116.41 million for the quarter, compared to analysts' expectations of $104.20 million. Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. During the same period last year, the firm earned $0.24 EPS. As a group, sell-side analysts predict that Ero Copper Corp. will post 1.56 earnings per share for the current year.

Institutional Investors Weigh In On Ero Copper

Several hedge funds and other institutional investors have recently modified their holdings of ERO. Qube Research & Technologies Ltd bought a new stake in shares of Ero Copper in the 3rd quarter worth about $27,000. Acuitas Investments LLC increased its position in shares of Ero Copper by 61.5% in the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company's stock worth $33,000 after purchasing an additional 800 shares during the last quarter. US Bancorp DE bought a new stake in shares of Ero Copper in the 4th quarter worth about $54,000. Deutsche Bank AG acquired a new position in shares of Ero Copper in the 4th quarter valued at about $66,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Ero Copper in the 4th quarter valued at about $79,000. Institutional investors own 71.30% of the company's stock.

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.