Ero Copper (NYSE:ERO) Reaches New 1-Year Low – Here’s Why

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

Analysts Set New Price Targets

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

Ero Copper Stock Performance

The company has a market cap of $1.41 billion, a PE ratio of 84.35 and a beta of 1.12. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. The firm’s 50 day moving average is $17.45 and its 200-day moving average is $19.52.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently made changes to their positions in the stock. Tidal Investments LLC grew its holdings in Ero Copper by 142.5% in the 3rd quarter. Tidal Investments LLC now owns 51,557 shares of the company’s stock valued at $1,149,000 after buying an additional 30,299 shares in the last quarter. Barclays PLC grew its holdings in Ero Copper by 64.4% in the 3rd quarter. Barclays PLC now owns 33,987 shares of the company’s stock valued at $757,000 after buying an additional 13,309 shares in the last quarter. 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 valued at $1,285,000 after buying an additional 55,163 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Ero Copper by 16.1% in the third quarter. Geode Capital Management LLC now owns 46,940 shares of the company’s stock valued at $1,050,000 after purchasing an additional 6,521 shares during the period. Finally, Impala Asset Management LLC grew its holdings in shares of Ero Copper by 12.7% in the third quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock valued at $49,208,000 after purchasing an additional 248,390 shares during the period. 71.30% of the stock is currently 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.