Ero Copper (NYSE:ERO) Stock Price Down 3.8%

Ero Copper Corp. (NYSE:ERO)’s stock price fell 3.8% on Monday . The stock traded as low as $19.05 and last traded at $19.38. 139,849 shares changed hands during trading, a decline of 57% from the average session volume of 324,474 shares. The stock had previously closed at $20.14.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ERO. Pi Financial raised shares of Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. TheStreet raised shares of Ero Copper from a “c” rating to a “b-” rating in a report on Friday, March 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Ero Copper currently has an average rating of “Hold” and a consensus price target of $24.00.

Ero Copper Price Performance

The firm’s fifty day moving average price is $18.46 and its 200 day moving average price is $15.88. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.98 billion, a PE ratio of 19.62 and a beta of 1.26.

Ero Copper (NYSE:ERO) last released its earnings results on Thursday, March 7th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. The company had revenue of $116.41 million during the quarter, compared to analysts’ expectations of $104.20 million. During the same period last year, the firm posted $0.24 EPS. As a group, equities analysts expect that Ero Copper Corp. will post 1.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

Several hedge funds have recently modified their holdings of ERO. National Bank of Canada FI lifted its holdings in shares of Ero Copper by 5.0% in the third quarter. National Bank of Canada FI now owns 116,055 shares of the company’s stock worth $1,881,000 after buying an additional 5,520 shares in the last quarter. Mackenzie Financial Corp increased its position in Ero Copper by 9.5% in the third quarter. Mackenzie Financial Corp now owns 40,093 shares of the company’s stock worth $691,000 after purchasing an additional 3,468 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Ero Copper by 6.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,785,920 shares of the company’s stock worth $30,937,000 after purchasing an additional 104,436 shares during the last quarter. CIBC Asset Management Inc increased its position in Ero Copper by 10.3% in the third quarter. CIBC Asset Management Inc now owns 87,349 shares of the company’s stock worth $1,511,000 after purchasing an additional 8,165 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Ero Copper by 4.9% in the third quarter. Jennison Associates LLC now owns 3,544,861 shares of the company’s stock worth $61,161,000 after purchasing an additional 165,982 shares during the last quarter. Hedge funds and other 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.