Ero Copper (NYSE:ERO) Shares Down 2.3% – Should You Sell?

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

Wall Street Analysts Forecast Growth

Several analysts have commented on ERO shares. Desjardins started coverage on shares of Ero Copper in a report on Friday, April 4th. They set a “hold” rating on the stock. TD Cowen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. TD Securities raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, Raymond James reiterated an “outperform” rating on shares of Ero Copper in a report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.33.

Ero Copper Stock Down 3.2 %

The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 62.12 and a beta of 1.10. The firm has a 50-day moving average of $12.44 and a 200 day moving average of $14.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45.

Ero Copper (NYSE:ERO) last released 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). Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The firm had revenue of $122.50 million during the quarter, compared to the consensus estimate of $183.26 million. As a group, sell-side analysts forecast that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in Ero Copper during the third quarter worth about $654,000. Barclays PLC boosted its stake in shares of Ero Copper by 64.4% during the 3rd quarter. Barclays PLC now owns 33,987 shares of the company’s stock worth $757,000 after acquiring an additional 13,309 shares during the period. Geode Capital Management LLC increased its holdings in shares of Ero Copper by 16.1% during the 3rd quarter. Geode Capital Management LLC now owns 46,940 shares of the company’s stock worth $1,050,000 after acquiring an additional 6,521 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Ero Copper by 2,172.6% during the 3rd 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 last quarter. Finally, Tidal Investments LLC boosted its position in Ero Copper by 142.5% during the third quarter. Tidal Investments LLC now owns 51,557 shares of the company’s stock worth $1,149,000 after purchasing an additional 30,299 shares during the period. 71.30% of the stock is currently 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.