Ero Copper (NYSE:ERO) Trading Up 7.8%

Ero Copper Corp. (NYSE:ERO)’s share price traded up 7.8% on Friday . The company traded as high as $20.67 and last traded at $20.57. 231,981 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 334,838 shares. The stock had previously closed at $19.08.

Analysts Set New Price Targets

A number of research firms have recently commented on ERO. Pi Financial upgraded Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. TheStreet raised 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.00.

Ero Copper Stock Up 8.1 %

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.23 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $18.63 and a 200-day simple moving average of $15.93. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 21.04 and a beta of 1.26.

Ero Copper (NYSE:ERO) last announced 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 business had revenue of $116.41 million during the quarter, compared to analyst estimates of $104.20 million. During the same period in the previous year, the firm earned $0.24 earnings per share. On average, sell-side analysts forecast that Ero Copper Corp. will post 1.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

Several hedge funds have recently added to or reduced their stakes in ERO. Kapitalo Investimentos Ltda bought a new position in Ero Copper in the fourth quarter valued at approximately $5,763,000. Goehring & Rozencwajg Associates LLC boosted its position in shares of Ero Copper by 3.4% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 258,308 shares of the company’s stock worth $4,086,000 after purchasing an additional 8,395 shares during the last quarter. CoreCommodity Management LLC acquired a new stake in shares of Ero Copper during the fourth quarter worth $660,000. Platinum Investment Management Ltd. bought a new stake in Ero Copper in the fourth quarter valued at about $257,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Ero Copper in the fourth 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.