Ero Copper (NYSE:ERO) Stock Price Up 3.3% – Time to Buy?

Ero Copper Corp. (NYSE:ERO) shot up 3.3% on Wednesday . The company traded as high as $14.64 and last traded at $14.58. 210,636 shares were traded during trading, a decline of 42% from the average session volume of 361,788 shares. The stock had previously closed at $14.11.

Analysts Set New Price Targets

Several equities analysts have issued reports on ERO shares. The Goldman Sachs Group began coverage on Ero Copper in a research note on Monday, December 2nd. They issued a “buy” rating and a $19.00 target price on the stock. StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $26.33.

Ero Copper Stock Up 0.4 %

The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 84.71 and a beta of 1.15. 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 business’s 50 day moving average is $14.92 and its 200 day moving average is $18.53.

Institutional Trading of Ero Copper

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its stake in Ero Copper by 1.4% during the 2nd quarter. National Bank of Canada FI now owns 58,271 shares of the company’s stock valued at $1,238,000 after acquiring an additional 793 shares during the period. Dimensional Fund Advisors LP lifted its position in Ero Copper by 32.9% during the second quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock valued at $9,922,000 after purchasing an additional 115,002 shares during the period. Goehring & Rozencwajg Associates LLC lifted its position in Ero Copper by 22.5% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock valued at $7,266,000 after purchasing an additional 62,500 shares during the period. 1832 Asset Management L.P. boosted its holdings in Ero Copper by 74.0% in the second quarter. 1832 Asset Management L.P. now owns 130,500 shares of the company’s stock valued at $2,790,000 after purchasing an additional 55,500 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in Ero Copper by 38.7% during the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after purchasing an additional 709 shares during the period. 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.