Ero Copper (NYSE:ERO) Stock Price Down 2.3% - Time to Sell?

Ero Copper Corp. (NYSE:ERO - Get Free Report)'s stock price traded down 2.3% during trading on Tuesday . The stock traded as low as $10.59 and last traded at $10.66. 20,230 shares were traded during mid-day trading, a decline of 95% from the average session volume of 396,577 shares. The stock had previously closed at $10.91.

Analysts Set New Price Targets

A number of analysts have issued reports on ERO shares. TD Securities raised Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. BMO Capital Markets initiated coverage on Ero Copper in a report on Wednesday. They issued an "outperform" rating for the company. TD Cowen raised shares of Ero Copper from a "hold" rating to a "buy" rating in a report on Wednesday, February 12th. Raymond James restated an "outperform" rating on shares of Ero Copper in a research report on Friday, April 4th. Finally, Desjardins started coverage on shares of Ero Copper in a research report on Friday, April 4th. They issued a "hold" rating on the stock. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Ero Copper has a consensus rating of "Buy" and an average price target of $26.33.

Ero Copper Stock Performance

The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 64.26 and a beta of 1.10. The stock's 50 day moving average is $12.24 and its two-hundred day moving average is $14.61.

Ero Copper (NYSE:ERO - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). The business had revenue of $122.50 million for the quarter, compared to analyst estimates of $183.26 million. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. Analysts anticipate that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Several large investors have recently modified their holdings of ERO. Raymond James Financial Inc. purchased a new position in Ero Copper in the 4th quarter valued at $991,000. Jennison Associates LLC boosted its holdings in shares of Ero Copper by 3.5% in the fourth quarter. Jennison Associates LLC now owns 5,909,627 shares of the company's stock valued at $79,645,000 after acquiring an additional 198,800 shares in the last quarter. Canoe Financial LP purchased a new stake in shares of Ero Copper in the fourth quarter valued at about $456,000. Montrusco Bolton Investments Inc. increased its stake in shares of Ero Copper by 3.9% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company's stock worth $10,448,000 after acquiring an additional 28,999 shares during the period. Finally, Sprott Inc. raised its holdings in Ero Copper by 42.2% during the fourth quarter. Sprott Inc. now owns 455,289 shares of the company's stock worth $6,137,000 after purchasing an additional 135,049 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.