Ero Copper Corp. (NYSE:ERO – Get Free Report)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $19.41, but opened at $18.86. Ero Copper shares last traded at $19.34, with a volume of 94,589 shares trading hands.
Analyst Upgrades and Downgrades
Several analysts have weighed in on ERO shares. Pi Financial upgraded Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Ero Copper has an average rating of “Hold” and an average price target of $24.00.
Check Out Our Latest Report on ERO
Ero Copper Trading Down 0.9 %
Ero Copper (NYSE:ERO – Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The company had revenue of $116.41 million during the quarter, compared to analyst estimates of $104.20 million. Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. During the same period last year, the firm earned $0.24 EPS. As a group, research analysts expect that Ero Copper Corp. will post 1.49 EPS for the current year.
Hedge Funds Weigh In On Ero Copper
Large investors have recently bought and sold shares of the business. Timelo Investment Management Inc. acquired a new position in Ero Copper in the 4th quarter worth about $987,000. Montrusco Bolton Investments Inc. raised its holdings in Ero Copper by 245.2% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 642,010 shares of the company’s stock worth $11,121,000 after purchasing an additional 456,033 shares during the period. Jennison Associates LLC raised its holdings in Ero Copper by 4.9% in the 3rd quarter. Jennison Associates LLC now owns 3,544,861 shares of the company’s stock worth $61,161,000 after purchasing an additional 165,982 shares during the period. Impala Asset Management LLC raised its holdings in shares of Ero Copper by 23.1% during the third quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after acquiring an additional 344,410 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Ero Copper by 3.9% during the third quarter. Public Sector Pension Investment Board now owns 175,208 shares of the company’s stock valued at $3,035,000 after acquiring an additional 6,631 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.
Ero Copper Company Profile
Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.
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