Ero Copper (NYSE:ERO) Announces Quarterly Earnings Results

Ero Copper (NYSE:ERO) posted its quarterly earnings results on Monday. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.17, Zacks reports. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%.

Ero Copper Trading Up 0.0%

Shares of Ero Copper stock traded up $0.01 on Monday, reaching $29.06. The company had a trading volume of 1,844,579 shares, compared to its average volume of 1,447,155. The firm’s 50 day moving average price is $35.48 and its two-hundred day moving average price is $30.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. Ero Copper has a 52-week low of $19.09 and a 52-week high of $40.83. The firm has a market cap of $3.03 billion, a PE ratio of 9.75, a PEG ratio of 0.26 and a beta of 1.32.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ERO. Freedom Broker downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Bradesco Corretora cut Ero Copper from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 2nd. Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. TD Securities reissued a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Finally, Weiss Ratings cut Ero Copper from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.33.

About Ero Copper

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company’s principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.