Ero Copper (NYSE:ERO) Reaches New 12-Month Low – Time to Sell?

Shares of Ero Copper Corp. (NYSE:ERO) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $12.48 and last traded at $12.41, with a volume of 81915 shares changing hands. The stock had previously closed at $12.84.

Wall Street Analysts Forecast Growth

ERO has been the subject of a number of research reports. TD Cowen raised Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. TD Securities raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group began coverage on Ero Copper in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 target price for the company. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $26.33.

Ero Copper Price Performance

The company has a 50-day moving average price of $13.65 and a two-hundred day moving average price of $16.81. 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 company has a market cap of $1.22 billion, a PE ratio of 69.47 and a beta of 1.14.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ERO. State of Wyoming acquired a new position in shares of Ero Copper in the fourth quarter worth about $76,000. Synergy Asset Management LLC acquired a new position in shares of Ero Copper in the fourth quarter worth about $78,000. Northwest & Ethical Investments L.P. lifted its stake in shares of Ero Copper by 19.1% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company’s stock worth $88,000 after acquiring an additional 1,050 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Ero Copper in the fourth quarter worth about $125,000. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Ero Copper by 128.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company’s stock worth $143,000 after acquiring an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.