Ero Copper (NYSE:ERO) Trading Up 5.8% – Time to Buy?

Ero Copper Corp. (NYSE:ERO)’s share price was up 5.8% during mid-day trading on Wednesday . The stock traded as high as $13.85 and last traded at $13.77. Approximately 251,448 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 458,895 shares. The stock had previously closed at $13.02.

Analysts Set New Price Targets

A number of brokerages have recently commented on ERO. TD Cowen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday. 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 assumed coverage on Ero Copper in a report on Monday, December 2nd. They set a “buy” rating and a $19.00 target price on the stock. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Ero Copper currently has a consensus rating of “Buy” and an average price target of $26.33.

Ero Copper Stock Up 2.8 %

The stock’s fifty day moving average price is $13.82 and its 200 day moving average price is $17.28. The stock has a market cap of $1.39 billion, a P/E ratio of 79.29 and a beta of 1.14. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Boston Partners grew its stake in shares of Ero Copper by 66.9% in the 4th quarter. Boston Partners now owns 1,101,265 shares of the company’s stock worth $14,850,000 after buying an additional 441,413 shares in the last quarter. Impala Asset Management LLC lifted its position in Ero Copper by 12.7% during the 3rd 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 boosted its stake in shares of Ero Copper by 4.3% during the 3rd 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 in the last quarter. FMR LLC grew its stake in Ero Copper by 1.8% in the 3rd quarter. FMR LLC now owns 11,869,851 shares of the company’s stock valued at $264,262,000 after acquiring an additional 206,405 shares during the period. Finally, Temasek Holdings Private Ltd boosted its holdings in Ero Copper by 41.2% in the 3rd quarter. Temasek Holdings Private Ltd now owns 542,421 shares of the company’s stock worth $12,080,000 after buying an additional 158,294 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

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.