Ero Copper (TSE:ERO) Sets New 1-Year Low – Here’s What Happened

Ero Copper Corp. (TSE:ERO)’s stock price hit a new 52-week low on Tuesday . The company traded as low as C$18.23 and last traded at C$18.39, with a volume of 742912 shares changing hands. The stock had previously closed at C$19.88.

Analyst Ratings Changes

A number of analysts recently commented on the company. National Bankshares lowered their price objective on Ero Copper from C$33.00 to C$31.50 and set a “sector perform” rating for the company in a research report on Tuesday, October 15th. Eight Capital reduced their price target on Ero Copper from C$40.00 to C$34.00 in a research report on Wednesday, November 6th. Scotiabank reduced their price target on shares of Ero Copper from C$34.00 to C$30.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Ventum Financial dropped their price target on shares of Ero Copper from C$31.50 to C$29.00 in a research note on Thursday, November 21st. Finally, The Goldman Sachs Group raised shares of Ero Copper to a “strong-buy” rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$32.92.

Ero Copper Stock Performance

The firm has a market cap of C$1.91 billion, a price-to-earnings ratio of -71.12, a price-to-earnings-growth ratio of -0.72 and a beta of 1.98. The stock’s 50 day moving average is C$19.94 and its 200 day moving average is C$24.17. The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 82.63.

Insider Activity

In other news, Director Chantal Gosselin bought 10,000 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of C$19.44 per share, for a total transaction of C$194,400.00. 10.37% of the stock is owned by company insiders.

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.