Ero Copper (NYSE:ERO) Hits New 52-Week Low – Time to Sell?

Ero Copper Corp. (NYSE:ERO)’s stock price hit 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 trading hands. The stock had previously closed at $12.84.

Wall Street Analyst Weigh In

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

Ero Copper Trading Down 5.4 %

The company has a market cap of $1.26 billion, a PE ratio of 71.79 and a beta of 1.14. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average is $13.70 and its 200-day moving average is $16.89.

Hedge Funds Weigh In On Ero Copper

Large investors have recently bought and sold shares of the business. Van ECK Associates Corp increased its stake in Ero Copper by 3.1% in the 3rd quarter. Van ECK Associates Corp now owns 136,990 shares of the company’s stock worth $3,051,000 after buying an additional 4,097 shares during the period. Intact Investment Management Inc. purchased a new position in Ero Copper during the 3rd quarter valued at about $670,000. Sentry Investment Management LLC bought a new stake in shares of Ero Copper in the 3rd quarter valued at about $457,000. Old West Investment Management LLC lifted its position in shares of Ero Copper by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 160,000 shares of the company’s stock worth $3,563,000 after purchasing an additional 80,000 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Ero Copper by 3.3% during the third quarter. CIBC Asset Management Inc now owns 117,832 shares of the company’s stock valued at $2,624,000 after purchasing an additional 3,746 shares in the last quarter. 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.