Ero Copper (NYSE:ERO) Stock Price Down 9.2% – Time to Sell?

Ero Copper Corp. (NYSE:ERO)’s share price fell 9.2% during mid-day trading on Wednesday . The stock traded as low as $16.52 and last traded at $16.90. 92,779 shares changed hands during trading, a decline of 72% from the average session volume of 326,941 shares. The stock had previously closed at $18.62.

Analyst Ratings Changes

A number of research analysts have commented on ERO shares. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Raymond James raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd. Jefferies Financial Group raised Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Finally, Bank of America assumed coverage on Ero Copper in a research note on Tuesday, September 3rd. They set a “buy” rating and a $28.00 price objective for the company. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $30.00.

Ero Copper Stock Performance

The firm has a fifty day moving average price of $20.21 and a 200 day moving average price of $20.57. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. The stock has a market cap of $1.76 billion, a PE ratio of -89.89 and a beta of 1.23.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently modified their holdings of ERO. Exchange Traded Concepts LLC acquired a new stake in Ero Copper in the 3rd quarter worth approximately $38,000. Toronto Dominion Bank lifted its stake in shares of 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 buying an additional 709 shares during the period. Chesapeake Capital Corp IL acquired a new stake in shares of Ero Copper during the second quarter worth $351,000. Platinum Investment Management Ltd. grew its holdings in shares of Ero Copper by 15.9% during the first quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock valued at $362,000 after buying an additional 2,564 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of Ero Copper in the 3rd quarter valued at $457,000. Hedge funds and other institutional investors 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.