Ero Copper (NYSE:ERO) Reaches New 12-Month Low – Time to Sell?

Ero Copper Corp. (NYSE:ERO) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $12.48 and last traded at $12.41, with a volume of 81915 shares trading hands. The stock had previously closed at $12.84.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ERO. TD Securities upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group began coverage on Ero Copper in a research note on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective on the stock. Finally, TD Cowen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $26.33.

Ero Copper Price Performance

The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $13.65 and a two-hundred day moving average price of $16.81. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 69.47 and a beta of 1.14.

Institutional Trading of Ero Copper

Institutional investors and hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank grew its holdings in Ero Copper by 2,172.6% in the 3rd quarter. Toronto Dominion Bank now owns 57,702 shares of the company’s stock worth $1,285,000 after buying an additional 55,163 shares in the last quarter. Jennison Associates LLC grew its holdings in Ero Copper by 3.5% in the 4th quarter. Jennison Associates LLC now owns 5,909,627 shares of the company’s stock worth $79,645,000 after buying an additional 198,800 shares in the last quarter. Old West Investment Management LLC grew its holdings in Ero Copper by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 160,000 shares of the company’s stock worth $3,563,000 after buying an additional 80,000 shares in the last quarter. Canoe Financial LP bought a new position in Ero Copper in the 4th quarter worth approximately $456,000. Finally, Montrusco Bolton Investments Inc. grew its holdings in Ero Copper by 3.9% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company’s stock worth $10,448,000 after buying an additional 28,999 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Company Profile

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.