Ero Copper (TSE:ERO) Sets New 52-Week Low - Here's Why

Shares of Ero Copper Corp. (TSE:ERO - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as C$16.11 and last traded at C$16.66, with a volume of 556579 shares trading hands. The stock had previously closed at C$16.52.

Wall Street Analyst Weigh In

ERO has been the subject of a number of analyst reports. Ventum Financial lowered their price objective on Ero Copper from C$31.50 to C$29.00 in a research report on Thursday, November 21st. Canaccord Genuity Group lowered their target price on Ero Copper from C$29.00 to C$25.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. Raymond James lowered their target price on Ero Copper from C$29.00 to C$28.00 and set an "outperform" rating for the company in a report on Wednesday, February 12th. Eight Capital lowered their target price on Ero Copper from C$40.00 to C$34.00 in a report on Wednesday, November 6th. Finally, Jefferies Financial Group decreased their price objective on Ero Copper from C$33.00 to C$29.00 in a report on Tuesday, January 7th. Three investment 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. According to data from MarketBeat.com, Ero Copper presently has an average rating of "Moderate Buy" and an average price target of C$30.38.

Ero Copper Stock Performance

The company has a debt-to-equity ratio of 83.17, a quick ratio of 1.43 and a current ratio of 0.68. The company has a market capitalization of C$1.17 billion, a P/E ratio of 72.88, a price-to-earnings-growth ratio of -0.72 and a beta of 1.98. The business has a 50 day moving average of C$19.49 and a 200-day moving average of C$23.31.

Insiders Place Their Bets

In related news, Director Chantal Gosselin bought 10,000 shares of the company's stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of C$19.44 per share, for a total transaction of C$194,400.00. Corporate insiders own 10.37% 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.

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