Ero Copper (NYSE:ERO) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Ero Copper (NYSE:ERO) released its quarterly earnings data on Monday. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.13, Zacks reports. Ero Copper had a return on equity of 27.09% and a net margin of 33.56%.

Ero Copper Trading Down 3.1%

ERO traded down $0.78 during midday trading on Monday, hitting $24.43. 1,227,826 shares of the company were exchanged, compared to its average volume of 1,593,910. The firm has a market capitalization of $2.55 billion, a P/E ratio of 9.62 and a beta of 1.13. Ero Copper has a 1-year low of $12.56 and a 1-year high of $39.80. The firm’s 50 day moving average price is $28.34 and its 200-day moving average price is $27.26. 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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FIL Ltd lifted its stake in shares of Ero Copper by 74.1% in the 4th quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock valued at $330,161,000 after purchasing an additional 4,966,427 shares during the period. Invesco Ltd. lifted its stake in shares of Ero Copper by 10.7% in the 4th quarter. Invesco Ltd. now owns 2,827,385 shares of the company’s stock valued at $79,987,000 after purchasing an additional 273,470 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ero Copper by 11.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock valued at $50,794,000 after purchasing an additional 250,303 shares during the period. Bank of America Corp DE lifted its stake in shares of Ero Copper by 82.6% in the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after purchasing an additional 803,320 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Ero Copper by 1,614.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company’s stock valued at $29,056,000 after purchasing an additional 1,350,738 shares during the period. 71.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. ATB Cormark Capital Markets raised Ero Copper to a “moderate buy” rating in a report on Friday, February 6th. Canaccord Genuity Group raised Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, January 14th. Zacks Research downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Bank of America downgraded Ero Copper from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. Finally, Raymond James Financial downgraded Ero Copper from a “moderate buy” rating to a “hold” rating in a report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ero Copper currently has an average rating of “Hold” and a consensus price target of $31.50.

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.