Ero Copper (NYSE:ERO) Hits New 1-Year Low – Should You Sell?

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Bank of America assumed coverage on Ero Copper in a report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 target price for the company. StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group initiated coverage on Ero Copper in a research note on Monday, December 2nd. They issued a “buy” rating and a $19.00 price target for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $26.33.

Ero Copper Stock Down 4.5 %

The firm has a 50 day moving average of $17.29 and a 200 day moving average of $19.45. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 80.53 and a beta of 1.12. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71.

Institutional Investors Weigh In On Ero Copper

Large investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC acquired a new stake in Ero Copper during the third quarter worth approximately $38,000. Toronto Dominion Bank grew its stake in Ero Copper by 38.7% during the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after purchasing an additional 709 shares during the period. Chesapeake Capital Corp IL acquired a new stake in Ero Copper during the second quarter worth approximately $351,000. Sentry Investment Management LLC acquired a new stake in Ero Copper during the third quarter worth approximately $457,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ero Copper by 6.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock worth $469,000 after purchasing an additional 1,277 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.