Ero Copper (NYSE:ERO) Trading Up 3.3% – Should You Buy?

Ero Copper Corp. (NYSE:ERO) traded up 3.3% on Wednesday . The company traded as high as $14.64 and last traded at $14.58. 210,636 shares changed hands during trading, a decline of 42% from the average session volume of 361,788 shares. The stock had previously closed at $14.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ERO shares. The Goldman Sachs Group assumed coverage on shares of Ero Copper in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 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. One investment 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $26.33.

Ero Copper Stock Performance

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 company’s 50 day moving average price is $15.10 and its 200-day moving average price is $18.59. The stock has a market cap of $1.46 billion, a P/E ratio of 83.24 and a beta of 1.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank raised its stake in Ero Copper by 38.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after acquiring an additional 709 shares during the period. National Bank of Canada FI boosted its holdings in Ero Copper by 1.4% in the 2nd quarter. National Bank of Canada FI now owns 58,271 shares of the company’s stock worth $1,238,000 after buying an additional 793 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ero Copper by 6.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,408 shares of the company’s stock valued at $522,000 after acquiring an additional 1,475 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Ero Copper in the third quarter worth $38,000. Finally, Pinpoint Asset Management Ltd grew its position in shares of Ero Copper by 7.2% in the third quarter. Pinpoint Asset Management Ltd now owns 42,372 shares of the company’s stock valued at $944,000 after purchasing an additional 2,856 shares in the last quarter. Hedge funds and other institutional investors own 71.30% 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.