Ero Copper (NYSE:ERO) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Ero Copper shares fell 4.0% to about $36.02 in midday trading, with 747,204 shares changing hands—49% below the prior session’s volume.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports a “Moderate Buy” consensus from 17 analysts, with an average price target of $32.33, below the current share price.
• The company beat quarterly expectations, reporting $0.83 in EPS versus a $0.74 consensus and revenue of $284.3 million versus $277.64 million; institutional investors own 71.3% of the stock.

Ero Copper Corp. (NYSE:ERO - Get Free Report) shares saw strong trading volume on Tuesday . 747,204 shares changed hands during mid-day trading, a decline of 49% from the previous session's volume of 1,465,849 shares.The stock last traded at $36.0180 and had previously closed at $37.13.

Wall Street Analyst Weigh In

ERO has been the topic of several recent analyst reports. Bradesco Corretora upgraded shares of Ero Copper to an "outperform" rating in a research note on Monday, July 20th. Zacks Research cut shares of Ero Copper from a "hold" rating to a "strong sell" rating in a report on Monday, August 17th. Wall Street Zen downgraded shares of Ero Copper from a "buy" rating to a "hold" rating in a research report on Saturday. National Bank Financial upgraded shares of Ero Copper from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, May 5th. Finally, Bank of America raised shares of Ero Copper from a "neutral" rating to a "buy" rating and boosted their price target for the company from $30.00 to $34.00 in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $32.33.

Ero Copper Stock Down 4.0%

The stock has a market cap of $3.72 billion, a PE ratio of 11.96, a P/E/G ratio of 0.31 and a beta of 1.21. The business has a 50 day moving average of $29.83 and a 200-day moving average of $29.05. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50.

Ero Copper (NYSE:ERO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. The business had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. Equities research analysts predict that Ero Copper Corp. will post 3.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ERO. FIL Ltd increased its stake in Ero Copper by 74.1% in the fourth quarter. FIL Ltd now owns 11,670,422 shares of the company's stock valued at $330,161,000 after purchasing an additional 4,966,427 shares during the period. Invesco Ltd. grew its holdings in shares of Ero Copper by 10.7% during the fourth quarter. Invesco Ltd. now owns 2,827,385 shares of the company's stock worth $79,987,000 after buying an additional 273,470 shares during the last quarter. Vanguard Group Inc. increased its position in Ero Copper by 77.6% in the 4th quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company's stock valued at $72,051,000 after acquiring an additional 1,112,428 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ero Copper by 11.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company's stock valued at $50,794,000 after acquiring an additional 250,303 shares during the period. Finally, Cape Ann Asset Management Ltd raised its stake in Ero Copper by 13.5% during the 1st quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company's stock valued at $51,983,000 after acquiring an additional 231,485 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Company Profile

Ero Copper Corp NYSE: ERO is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.

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