Ero Copper (NYSE:ERO) Trading Down 3.8%

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ERO. Pi Financial upgraded Ero Copper from a “neutral” rating to a “buy” rating in a research report on Thursday. TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a research 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. According to MarketBeat.com, Ero Copper has a consensus rating of “Hold” and an average price target of $24.00.

Ero Copper Price Performance

The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 19.72 and a beta of 1.26. The stock has a fifty day simple moving average of $18.28 and a 200-day simple moving average of $15.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.23 and a quick ratio of 0.94.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, March 7th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). The business had revenue of $116.41 million for the quarter, compared to analyst estimates 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 in the previous year, the company earned $0.24 earnings per share. On average, equities research analysts anticipate that Ero Copper Corp. will post 1.49 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Acuitas Investments LLC grew its holdings in Ero Copper by 61.5% in the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock valued at $33,000 after buying an additional 800 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Ero Copper in the 4th quarter valued at $79,000. Quantbot Technologies LP purchased a new stake in Ero Copper in the 3rd quarter valued at $131,000. Vanguard Personalized Indexing Management LLC grew its holdings in Ero Copper by 7.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,636 shares of the company’s stock valued at $201,000 after buying an additional 843 shares in the last quarter. Finally, Keybank National Association OH grew its holdings in Ero Copper by 13.3% in the 3rd quarter. Keybank National Association OH now owns 13,310 shares of the company’s stock valued at $229,000 after buying an additional 1,560 shares in the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

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.