Ero Copper (NYSE:ERO) Hits New 1-Year Low – Should You Sell?

Ero Copper Corp. (NYSE:ERO)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $13.68 and last traded at $13.72, with a volume of 108574 shares. The stock had previously closed at $14.33.

Wall Street Analyst Weigh In

ERO has been the topic of several recent research reports. Bank of America initiated coverage on Ero Copper in a report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price target on the stock. Raymond James upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd. StockNews.com upgraded Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group began coverage on Ero Copper in a report on Monday, December 2nd. They issued a “buy” rating and a $19.00 target price on the stock. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $26.33.

Ero Copper Stock Down 4.5 %

The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. The stock has a fifty day moving average price of $17.29 and a two-hundred day moving average price of $19.45. The company has a market cap of $1.41 billion, a P/E ratio of 80.53 and a beta of 1.12.

Institutional Trading of Ero Copper

A number of hedge funds have recently bought and sold shares of ERO. Impala Asset Management LLC lifted its holdings in Ero Copper by 12.7% during the third quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock worth $49,208,000 after acquiring an additional 248,390 shares during the period. Jennison Associates LLC lifted its holdings in Ero Copper by 4.3% during the third quarter. Jennison Associates LLC now owns 5,710,827 shares of the company’s stock worth $127,149,000 after acquiring an additional 237,345 shares during the period. FMR LLC lifted its holdings in Ero Copper by 1.8% during the third quarter. FMR LLC now owns 11,869,851 shares of the company’s stock worth $264,262,000 after acquiring an additional 206,405 shares during the period. Temasek Holdings Private Ltd lifted its holdings in Ero Copper by 41.2% during the third quarter. Temasek Holdings Private Ltd now owns 542,421 shares of the company’s stock worth $12,080,000 after acquiring an additional 158,294 shares during the period. Finally, Mirabella Financial Services LLP lifted its holdings in Ero Copper by 608.2% during the third quarter. Mirabella Financial Services LLP now owns 143,252 shares of the company’s stock worth $3,189,000 after acquiring an additional 123,023 shares during the period. 71.30% of the stock is currently owned by institutional investors.

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.