Ero Copper (NYSE:ERO) Shares Up 8.9% – Time to Buy?

Shares of Ero Copper Corp. (NYSE:ERO) rose 8.9% on Friday . The stock traded as high as $39.34 and last traded at $39.22. 2,790,648 shares were traded during trading, an increase of 91% from the average daily volume of 1,458,087 shares. The stock had previously closed at $36.02.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ERO shares. Wall Street Zen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Bradesco Corretora raised shares of Ero Copper to an “outperform” rating in a report on Monday, July 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. TD Securities reaffirmed a “hold” rating on shares of Ero Copper in a report on Friday, August 7th. Finally, Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Ero Copper Trading Up 9.4%

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 0.32 and a beta of 1.21. The business’s fifty day moving average price is $28.77 and its 200 day moving average price is $28.82.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. Research analysts anticipate that Ero Copper Corp. will post 3.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Ero Copper in the fourth quarter worth approximately $38,000. PenderFund Capital Management Ltd. acquired a new stake in Ero Copper during the 2nd quarter valued at approximately $39,000. Kestra Advisory Services LLC acquired a new stake in Ero Copper during the 4th quarter valued at approximately $56,000. Banque Cantonale Vaudoise acquired a new stake in Ero Copper during the 3rd quarter valued at approximately $111,000. Finally, Barclays PLC raised its holdings in Ero Copper by 1,243.1% during the 4th quarter. Barclays PLC now owns 7,508 shares of the company’s stock worth $212,000 after purchasing an additional 6,949 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 (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.