Ero Copper (TSE:ERO) Hits New 12-Month Low – Here’s What Happened

Ero Copper Corp. (TSE:ERO) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as C$18.14 and last traded at C$18.14, with a volume of 334329 shares changing hands. The stock had previously closed at C$19.26.

Analyst Ratings Changes

Several research firms have recently weighed in on ERO. Raymond James reduced their price objective on shares of Ero Copper from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. National Bankshares reduced their price objective on shares of Ero Copper from C$27.00 to C$23.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 12th. Canaccord Genuity Group reduced their price objective on shares of Ero Copper from C$29.00 to C$25.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. TD Securities upgraded shares of Ero Copper from a “hold” rating to a “buy” rating and reduced their price objective for the company from C$26.00 to C$23.00 in a research report on Wednesday, February 12th. Finally, Scotiabank reduced their price objective on shares of Ero Copper from C$28.50 to C$25.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ero Copper currently has an average rating of “Moderate Buy” and a consensus target price of C$30.38.

Ero Copper Stock Down 5.6 %

The business’s 50 day simple moving average is C$19.71 and its 200 day simple moving average is C$23.70. The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 83.17. The company has a market capitalization of C$1.27 billion, a PE ratio of 79.53, a price-to-earnings-growth ratio of -0.72 and a beta of 1.98.

Insider Transactions at Ero Copper

In related news, Director Chantal Gosselin purchased 10,000 shares of Ero Copper stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of C$19.44 per share, with a total value of C$194,400.00. 10.37% of the stock is owned by insiders.

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.