Ero Copper (NYSE:ERO) Stock Price Up 8.2% – Here’s What Happened

Ero Copper Corp. (NYSE:ERO) was up 8.2% during trading on Tuesday . The company traded as high as $34.23 and last traded at $33.6730. Approximately 467,066 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 2,142,820 shares. The stock had previously closed at $31.13.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ERO. Bank of America downgraded Ero Copper from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Ero Copper in a research report on Friday, December 5th. Loop Capital set a $32.00 price target on shares of Ero Copper in a research report on Tuesday, December 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ero Copper in a research note on Monday, December 29th. Finally, Ventum Financial upgraded shares of Ero Copper to a “strong-buy” rating in a research report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, Ero Copper presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Ero Copper Stock Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46. The stock has a fifty day simple moving average of $30.32 and a two-hundred day simple moving average of $23.45. The firm has a market capitalization of $3.52 billion, a P/E ratio of 25.44 and a beta of 1.20.

Institutional Investors Weigh In On Ero Copper

Large investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new stake in Ero Copper during the fourth quarter worth $25,000. Kestra Advisory Services LLC purchased a new position in Ero Copper during the 4th quarter worth $56,000. Banque Cantonale Vaudoise bought a new stake in shares of Ero Copper in the 3rd quarter worth $111,000. SG Americas Securities LLC purchased a new stake in shares of Ero Copper in the fourth quarter valued at about $115,000. Finally, Shay Capital LLC purchased a new stake in shares of Ero Copper in the third quarter valued at about $202,000. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.