Ero Copper (NYSE:ERO) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Ero Copper (NYSE:ERO) issued its quarterly earnings data on Thursday. The company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02), Zacks reports. Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. The company had revenue of $320.20 million for the quarter, compared to the consensus estimate of $430.46 million.

Ero Copper Price Performance

NYSE:ERO traded down $1.21 during trading hours on Friday, hitting $27.71. 1,496,072 shares of the stock traded hands, compared to its average volume of 2,066,753. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 20.83 and a beta of 1.17. Ero Copper has a 1 year low of $9.30 and a 1 year high of $39.80. The stock has a 50 day moving average price of $31.33 and a 200 day moving average price of $24.36. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ERO. Public Employees Retirement System of Ohio grew its stake in shares of Ero Copper by 3.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company’s stock worth $933,000 after buying an additional 1,107 shares in the last quarter. Jain Global LLC lifted its holdings in shares of Ero Copper by 12.7% in the 4th quarter. Jain Global LLC now owns 13,300 shares of the company’s stock valued at $376,000 after acquiring an additional 1,500 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Ero Copper by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock valued at $936,000 after acquiring an additional 1,823 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Ero Copper in the fourth quarter worth about $56,000. Finally, Swiss National Bank raised its position in Ero Copper by 1.4% during the fourth quarter. Swiss National Bank now owns 194,900 shares of the company’s stock valued at $5,525,000 after purchasing an additional 2,600 shares during the period. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ERO shares. Raymond James Financial cut Ero Copper from a “moderate buy” rating to a “hold” rating in a report on Monday, February 9th. The Goldman Sachs Group increased their target price on Ero Copper from $25.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Loop Capital set a $32.00 price target on Ero Copper in a research note on Tuesday, December 30th. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research note on Monday, January 26th. Finally, Freedom Capital raised shares of Ero Copper to a “strong-buy” rating in a report on Tuesday, December 30th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

About Ero Copper

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.