Ero Copper (NYSE:ERO) Shares Up 3.3% - Here's Why

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on ERO shares. StockNews.com raised shares of Ero Copper from a "sell" rating to a "hold" rating in a research report on Friday, October 25th. The Goldman Sachs Group started coverage on Ero Copper in a research report on Monday, December 2nd. They issued a "buy" rating and a $19.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $26.33.

Ero Copper Trading Up 1.4 %

The company's fifty day moving average is $15.10 and its 200-day moving average is $18.59. The stock has a market cap of $1.48 billion, a PE ratio of 84.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in shares of Ero Copper by 142.5% during the 3rd quarter. Tidal Investments LLC now owns 51,557 shares of the company's stock worth $1,149,000 after acquiring an additional 30,299 shares in the last quarter. Barclays PLC boosted its position in Ero Copper by 64.4% during the third quarter. Barclays PLC now owns 33,987 shares of the company's stock worth $757,000 after purchasing an additional 13,309 shares in the last quarter. Toronto Dominion Bank grew its holdings in Ero Copper by 2,172.6% in the third quarter. Toronto Dominion Bank now owns 57,702 shares of the company's stock valued at $1,285,000 after purchasing an additional 55,163 shares during the period. Geode Capital Management LLC increased its position in shares of Ero Copper by 16.1% in the third quarter. Geode Capital Management LLC now owns 46,940 shares of the company's stock valued at $1,050,000 after buying an additional 6,521 shares in the last quarter. Finally, Impala Asset Management LLC raised its stake in shares of Ero Copper by 12.7% during the 3rd quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company's stock worth $49,208,000 after buying an additional 248,390 shares during the period. 71.30% of the stock is owned by institutional investors and hedge funds.

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.