Ero Copper (NYSE:ERO) Shares Down 4.1% – Time to Sell?

Shares of Ero Copper Corp. (NYSE:ERO) were down 4.1% during trading on Friday . The stock traded as low as $30.06 and last traded at $30.2640. Approximately 1,124,006 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 2,349,402 shares. The stock had previously closed at $31.55.

Analyst Ratings Changes

A number of research firms have recently commented on ERO. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a report on Monday, January 26th. Weiss Ratings restated a “hold (c)” rating on shares of Ero Copper in a research report on Monday, December 29th. TD Cowen reissued a “hold” rating on shares of Ero Copper in a report on Tuesday, October 21st. Wall Street Zen cut Ero Copper from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, TD Securities lowered Ero Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Ero Copper currently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Ero Copper Stock Performance

The firm has a fifty day moving average of $29.02 and a 200-day moving average of $21.93. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64. The firm has a market cap of $3.19 billion, a P/E ratio of 23.02 and a beta of 1.20.

Ero Copper (NYSE:ERO) last released its earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. The business had revenue of $177.10 million for the quarter, compared to analyst estimates of $309.30 million. Research analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ERO. FNY Investment Advisers LLC acquired a new position in shares of Ero Copper during the 4th quarter worth about $25,000. Banque Cantonale Vaudoise acquired a new position in Ero Copper during the third quarter valued at approximately $111,000. SG Americas Securities LLC bought a new stake in Ero Copper in the fourth quarter valued at approximately $115,000. Shay Capital LLC bought a new stake in Ero Copper in the third quarter valued at approximately $202,000. Finally, Versor Investments LP bought a new stake in Ero Copper in the third quarter valued at approximately $217,000. Institutional investors own 71.30% of the company’s stock.

About Ero Copper

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.