Ero Copper (NYSE:ERO) Shares Gap Down to $19.41

Ero Copper Corp. (NYSE:ERO) shares gapped down prior to trading 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 changing hands.

Analyst Ratings Changes

ERO has been the topic of a number of analyst reports. Pi Financial raised Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. TheStreet raised Ero Copper from a “c” rating to a “b-” rating in a report on Friday, March 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.00.

Ero Copper Stock Performance

The stock’s 50-day moving average price is $18.36 and its 200-day moving average price is $15.86. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.94 and a current ratio of 1.23. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 19.81 and a beta of 1.26.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Thursday, March 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. The company had revenue of $116.41 million for the quarter, compared to analyst estimates of $104.20 million. During the same quarter in the previous year, the business posted $0.24 earnings per share. As a group, equities research analysts expect that Ero Copper Corp. will post 1.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Acuitas Investments LLC raised its position in shares of Ero Copper by 61.5% during the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock worth $33,000 after purchasing an additional 800 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Ero Copper during the 4th quarter worth approximately $79,000. Quantbot Technologies LP acquired a new position in Ero Copper in the 3rd quarter valued at $131,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Ero Copper by 7.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,636 shares of the company’s stock worth $201,000 after purchasing an additional 843 shares during the period. Finally, Keybank National Association OH lifted its stake in shares of Ero Copper by 13.3% during the 3rd quarter. Keybank National Association OH now owns 13,310 shares of the company’s stock worth $229,000 after purchasing an additional 1,560 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

About Ero Copper

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.