Ero Copper (NYSE:ERO) Sees Unusually-High Trading Volume – Here’s What Happened

Ero Copper Corp. (NYSE:ERO) shares saw unusually-strong trading volume on Tuesday . Approximately 672,307 shares were traded during trading, an increase of 56% from the previous session’s volume of 430,897 shares.The stock last traded at $13.08 and had previously closed at $13.88.

Wall Street Analyst Weigh In

ERO has been the subject of several research reports. The Goldman Sachs Group assumed coverage on shares of Ero Copper in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price objective for the company. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ero Copper currently has a consensus rating of “Buy” and an average price target of $26.33.

Ero Copper Price Performance

The company’s fifty day moving average is $13.86 and its two-hundred day moving average is $17.33. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 76.32 and a beta of 1.14. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC acquired a new stake in shares of Ero Copper in the 3rd quarter valued at approximately $38,000. Synergy Asset Management LLC acquired a new position in shares of Ero Copper in the 4th quarter valued at $78,000. Northwest & Ethical Investments L.P. increased its position in shares of Ero Copper by 19.1% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company’s stock valued at $88,000 after buying an additional 1,050 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Ero Copper during the 4th quarter worth $125,000. Finally, Quantbot Technologies LP bought a new position in Ero Copper during the fourth quarter worth about $162,000. Institutional investors own 71.30% of the company’s stock.

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.