Traders Purchase High Volume of Ero Copper Call Options (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) was the recipient of unusually large options trading on Friday. Stock traders purchased 4,598 call options on the stock. This represents an increase of approximately 57% compared to the typical volume of 2,936 call options.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Stifel Canada lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. TD Cowen reiterated a “hold” rating on shares of Ero Copper in a research note on Tuesday, October 21st. TD Securities downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Tuesday, October 21st. Scotiabank raised shares of Ero Copper from a “hold” rating to an “outperform” rating in a report on Thursday, November 6th. Finally, Canaccord Genuity Group lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, Ero Copper has an average rating of “Hold” and an average target price of $25.00.

Institutional Investors Weigh In On Ero Copper

A number of institutional investors and hedge funds have recently bought and sold shares of ERO. Northwest & Ethical Investments L.P. grew its holdings in Ero Copper by 22.6% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock valued at $97,000 after buying an additional 1,483 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Ero Copper in the third quarter valued at $111,000. Shay Capital LLC purchased a new stake in shares of Ero Copper in the third quarter valued at $202,000. Versor Investments LP acquired a new stake in shares of Ero Copper during the third quarter valued at $217,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ero Copper during the first quarter valued at $217,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Price Performance

NYSE ERO traded up $1.05 during trading hours on Friday, reaching $26.58. The company’s stock had a trading volume of 514,412 shares, compared to its average volume of 711,757. 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 company’s 50-day moving average is $22.84 and its two-hundred day moving average is $18.27. Ero Copper has a fifty-two week low of $9.30 and a fifty-two week high of $26.87. The stock has a market cap of $2.76 billion, a PE ratio of 19.99 and a beta of 1.23.

Ero Copper (NYSE:ERO) last announced 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 analysts’ expectations of $309.30 million. Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. Analysts forecast that Ero Copper will post 0.71 EPS for the current year.

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.