Ero Copper (NYSE:ERO) Posts Earnings Results, Beats Estimates By $0.17 EPS

Ero Copper (NYSE:ERO) announced its quarterly earnings results on Monday. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.17, Zacks reports. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%.

Ero Copper Trading Up 0.0%

Ero Copper stock traded up $0.01 during midday trading on Monday, reaching $29.06. The stock had a trading volume of 1,844,579 shares, compared to its average volume of 1,447,155. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. Ero Copper has a 52-week low of $19.09 and a 52-week high of $40.83. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 0.26 and a beta of 1.32. The company has a fifty day moving average of $35.48 and a 200 day moving average of $30.68.

Analyst Ratings Changes

ERO has been the topic of several analyst reports. Wall Street Zen cut Ero Copper from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Bradesco Corretora lowered Ero Copper from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 2nd. Freedom Broker cut Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Zacks Research downgraded Ero Copper from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Finally, Bank of America raised Ero Copper from a “neutral” rating to a “buy” rating and boosted their target price for the company from $30.00 to $34.00 in a research report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.33.

About Ero Copper

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company’s principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.