Ero Copper (NYSE:ERO) Sets New 12-Month Low – Should You Sell?

Ero Copper Corp. (NYSE:ERO)’s share price reached a new 52-week low during trading on Thursday . The stock 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 Analyst Weigh In

Several analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on Ero Copper in a report on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective on the stock. TD Securities upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, TD Cowen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. 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 data from MarketBeat.com, Ero Copper currently has an average rating of “Buy” and a consensus target price of $26.33.

Ero Copper Stock Performance

The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 71.79 and a beta of 1.14. 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 stock has a fifty day simple moving average of $13.70 and a two-hundred day simple moving average of $16.89.

Institutional Trading of Ero Copper

A number of institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in Ero Copper by 1.8% during the third quarter. FMR LLC now owns 11,869,851 shares of the company’s stock valued at $264,262,000 after acquiring an additional 206,405 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Ero Copper by 3.5% in the fourth quarter. Jennison Associates LLC now owns 5,909,627 shares of the company’s stock worth $79,645,000 after buying an additional 198,800 shares during the period. Invesco Ltd. boosted its holdings in shares of Ero Copper by 22.6% during the fourth quarter. Invesco Ltd. now owns 3,890,977 shares of the company’s stock worth $52,450,000 after purchasing an additional 715,999 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ero Copper by 5.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,527,158 shares of the company’s stock worth $47,529,000 after purchasing an additional 176,637 shares in the last quarter. Finally, 683 Capital Management LLC lifted its position in Ero Copper by 20.4% during the fourth quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company’s stock valued at $33,272,000 after buying an additional 418,367 shares during the period. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

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.