Ero Copper Target of Unusually Large Options Trading (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) was the recipient of unusually large options trading on Monday. Stock investors acquired 25,264 call options on the company. This is an increase of approximately 656% compared to the typical daily volume of 3,344 call options.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ERO. The Goldman Sachs Group lowered shares of Ero Copper from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $31.00 in a research note on Tuesday, April 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $34.00 in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Ero Copper currently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Ero Copper Stock Up 4.3%

NYSE:ERO traded up $1.48 on Monday, hitting $35.78. 2,156,365 shares of the company’s stock traded hands, compared to its average volume of 1,444,604. The company has a market cap of $3.73 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.27 and a beta of 1.21. Ero Copper has a 1 year low of $13.37 and a 1 year high of $39.80. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $27.42 and a 200-day moving average price of $28.66.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. The business had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. Equities analysts anticipate that Ero Copper will post 4.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Institutional investors have recently modified their holdings of the stock. Concurrent Investment Advisors LLC acquired a new stake in shares of Ero Copper in the fourth quarter worth about $1,142,000. Cape Ann Asset Management Ltd increased its holdings in shares of Ero Copper by 13.5% during the 1st quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock valued at $51,983,000 after acquiring an additional 231,485 shares during the last quarter. Artemis Investment Management LLP acquired a new position in shares of Ero Copper during the 4th quarter valued at about $14,363,000. Temasek Holdings Private Ltd raised its stake in shares of Ero Copper by 22.3% in the 1st quarter. Temasek Holdings Private Ltd now owns 579,162 shares of the company’s stock valued at $15,396,000 after acquiring an additional 105,502 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Ero Copper by 4,913.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock worth $26,000,000 after purchasing an additional 955,487 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.