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

Ero Copper Corp. (NYSE:ERO) saw unusually large options trading activity on Friday. Stock traders acquired 10,680 call options on the stock. This is an increase of approximately 329% compared to the average daily volume of 2,490 call options.

Institutional Trading of Ero Copper

Several large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its stake in Ero Copper by 5.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 55,103 shares of the company’s stock valued at $668,000 after acquiring an additional 2,958 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Ero Copper by 234.1% during the first quarter. TD Asset Management Inc now owns 935,090 shares of the company’s stock valued at $11,324,000 after purchasing an additional 655,232 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Ero Copper by 7.3% in the first quarter. Mackenzie Financial Corp now owns 50,860 shares of the company’s stock worth $616,000 after purchasing an additional 3,480 shares during the period. XTX Topco Ltd acquired a new stake in Ero Copper in the first quarter worth about $188,000. Finally, Alberta Investment Management Corp grew its position in Ero Copper by 29.0% in the 1st quarter. Alberta Investment Management Corp now owns 67,700 shares of the company’s stock valued at $820,000 after buying an additional 15,200 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Stock Up 4.4%

Ero Copper stock opened at $25.25 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05. Ero Copper has a one year low of $9.30 and a one year high of $25.78. The company has a 50-day simple moving average of $21.47 and a 200-day simple moving average of $17.20. The firm has a market capitalization of $2.62 billion, a P/E ratio of 18.43 and a beta of 1.25.

Ero Copper (NYSE:ERO) last posted 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 26.63% and a return on equity of 17.96%. The firm had revenue of $177.10 million for the quarter, compared to analyst estimates of $309.30 million. As a group, equities analysts expect that Ero Copper will post 0.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ERO shares. Zacks Research downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Ventum Cap Mkts upgraded Ero Copper to a “strong-buy” rating in a research report on Monday, November 3rd. National Bankshares reiterated a “sector perform” rating on shares of Ero Copper in a report on Tuesday, August 5th. Raymond James Financial reissued an “outperform” rating on shares of Ero Copper in a research report on Friday, October 10th. Finally, Cibc World Mkts downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.00.

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.