Shares of Ero Copper Corp. (NYSE:ERO - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 672,307 shares were traded during mid-day trading, an increase of 56% from the previous session's volume of 430,897 shares.The stock last traded at $13.08 and had previously closed at $13.88.
Analyst Ratings Changes
ERO has been the subject of a number of recent analyst reports. TD Securities upgraded shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Wednesday. The Goldman Sachs Group initiated coverage on Ero Copper in a research note on Monday, December 2nd. They issued a "buy" rating and a $19.00 price objective for the company. TD Cowen raised shares of Ero Copper from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, StockNews.com raised shares of Ero Copper from a "sell" rating to a "hold" rating in a report on Friday, October 25th. One investment 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. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $26.33.
Check Out Our Latest Report on Ero Copper
Ero Copper Stock Up 2.3 %
The firm's fifty day simple moving average is $13.78 and its two-hundred day simple moving average is $17.19. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 85.09 and a beta of 1.14. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of ERO. Exchange Traded Concepts LLC purchased a new position in Ero Copper during the 3rd quarter worth $38,000. Synergy Asset Management LLC acquired a new stake in shares of Ero Copper in the fourth quarter valued at about $78,000. Northwest & Ethical Investments L.P. lifted its stake in shares of Ero Copper by 19.1% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company's stock valued at $88,000 after purchasing an additional 1,050 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Ero Copper in the fourth quarter valued at about $125,000. Finally, TD Waterhouse Canada Inc. raised its position in Ero Copper by 128.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company's stock worth $143,000 after acquiring an additional 6,000 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.
About Ero Copper
(
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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.
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