Ero Copper (NYSE:ERO) Shares Gap Up – Here’s Why

Ero Copper Corp. (NYSE:ERO)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $32.84, but opened at $34.96. Ero Copper shares last traded at $34.7780, with a volume of 539,244 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ERO. Raymond James Financial reissued an “outperform” rating on shares of Ero Copper in a research note on Wednesday, January 14th. Wall Street Zen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. TD Cowen restated a “hold” rating on shares of Ero Copper in a research report on Tuesday, October 21st. Cibc World Mkts lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, Ventum Cap Mkts upgraded shares of Ero Copper to a “strong-buy” rating in a report on Monday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Ero Copper Trading Up 2.0%

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. The business has a 50 day moving average of $27.58 and a two-hundred day moving average of $21.12. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 27.14 and a beta of 1.22.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.09). The business had revenue of $177.10 million during the quarter, compared to analyst estimates of $309.30 million. Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. Equities analysts predict that Ero Copper Corp. will post 0.71 EPS for the current year.

Institutional Investors Weigh In On Ero Copper

Institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new position in Ero Copper in the fourth quarter worth $25,000. Banque Cantonale Vaudoise purchased a new stake in shares of Ero Copper during the 3rd quarter valued at $111,000. SG Americas Securities LLC bought a new stake in shares of Ero Copper during the 4th quarter worth $115,000. Shay Capital LLC purchased a new position in shares of Ero Copper in the 3rd quarter worth about $202,000. Finally, Versor Investments LP bought a new position in Ero Copper during the third quarter valued at about $217,000. 71.30% of the stock is owned by institutional investors.

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.