Ero Copper (NYSE:ERO) Stock Price Up 5.8% - What's Next?

Shares of Ero Copper Corp. (NYSE:ERO - Get Free Report) rose 5.8% on Wednesday . The company traded as high as $13.85 and last traded at $13.77. Approximately 251,448 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 458,895 shares. The stock had previously closed at $13.02.

Analysts Set New Price Targets

ERO has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on Ero Copper in a research report on Monday, December 2nd. They issued a "buy" rating and a $19.00 price target for the company. StockNews.com upgraded Ero Copper from a "sell" rating to a "hold" rating in a research report on Friday, October 25th. TD Cowen upgraded Ero Copper from a "hold" rating to a "buy" rating in a research report on Wednesday. Finally, TD Securities raised Ero Copper from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $26.33.

Ero Copper Price Performance

The stock has a 50 day moving average price of $13.78 and a two-hundred day moving average price of $17.19. 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 has a market capitalization of $1.50 billion, a PE ratio of 85.09 and a beta of 1.14.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank grew its holdings in Ero Copper by 2,172.6% in the 3rd quarter. Toronto Dominion Bank now owns 57,702 shares of the company's stock valued at $1,285,000 after buying an additional 55,163 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Ero Copper by 3.5% during 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 during the period. Old West Investment Management LLC increased its holdings in Ero Copper by 100.0% in the third quarter. Old West Investment Management LLC now owns 160,000 shares of the company's stock valued at $3,563,000 after purchasing an additional 80,000 shares during the last quarter. Canoe Financial LP bought a new stake in shares of Ero Copper in the fourth quarter worth about $456,000. Finally, Montrusco Bolton Investments Inc. increased its holdings in shares of Ero Copper by 3.9% in 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 in the last quarter. Institutional investors and hedge funds 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.