Ero Copper (TSE:ERO) Sets New 52-Week Low – Here’s Why

Ero Copper Corp. (TSE:ERO) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as C$16.11 and last traded at C$16.66, with a volume of 556579 shares trading hands. The stock had previously closed at C$16.52.

Analyst Ratings Changes

A number of research firms have recently issued reports on ERO. Eight Capital dropped their price target on Ero Copper from C$40.00 to C$34.00 in a research note on Wednesday, November 6th. The Goldman Sachs Group upgraded Ero Copper to a “strong-buy” rating in a research note on Monday, December 2nd. Jefferies Financial Group dropped their price target on Ero Copper from C$33.00 to C$29.00 in a research note on Tuesday, January 7th. TD Securities upgraded Ero Copper from a “hold” rating to a “buy” rating and lowered their target price for the company from C$26.00 to C$23.00 in a research report on Wednesday, February 12th. Finally, National Bankshares lowered their target price on Ero Copper from C$27.00 to C$23.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$30.38.

Ero Copper Price Performance

The company has a debt-to-equity ratio of 83.17, a quick ratio of 1.43 and a current ratio of 0.68. The firm has a market capitalization of C$1.17 billion, a P/E ratio of 72.88, a P/E/G ratio of -0.72 and a beta of 1.98. The stock’s 50 day simple moving average is C$19.49 and its 200 day simple moving average is C$23.31.

Insider Transactions at Ero Copper

In other Ero Copper news, Director Chantal Gosselin purchased 10,000 shares of the stock in a transaction dated Friday, December 27th. The stock was purchased at an average price of C$19.44 per share, with a total value of C$194,400.00. Corporate insiders own 10.37% 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.