Ero Copper (NYSE:ERO) Shares Gap Down – Time to Sell?

Ero Copper Corp. (NYSE:ERO) shares gapped down prior to trading on Thursday . The stock had previously closed at $38.25, but opened at $35.75. Ero Copper shares last traded at $35.2550, with a volume of 354,278 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have commented on ERO. Zacks Research downgraded Ero Copper from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Bradesco Corretora lowered shares of Ero Copper from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 2nd. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. TD Securities reaffirmed a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ero Copper presently has an average rating of “Hold” and a consensus price target of $32.33.

Ero Copper Stock Performance

The company’s 50-day moving average price is $31.14 and its two-hundred day moving average price is $29.32. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.31 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81.

Ero Copper (NYSE:ERO) last released its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. The company had revenue of $284.30 million for the quarter, compared to the consensus estimate of $277.64 million. On average, equities research analysts anticipate that Ero Copper Corp. will post 3.96 EPS for the current fiscal year.

Institutional Trading of Ero Copper

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ero Copper during the 4th quarter valued at about $38,000. PenderFund Capital Management Ltd. purchased a new stake in shares of Ero Copper in the 2nd quarter valued at $39,000. Kestra Advisory Services LLC bought a new position in shares of Ero Copper during the 4th quarter valued at $56,000. Banque Cantonale Vaudoise bought a new stake in Ero Copper in the third quarter worth $111,000. Finally, Shay Capital LLC purchased a new stake in Ero Copper during the third quarter valued at about $202,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

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.