Ero Copper (TSE:ERO) Sets New 12-Month Low – Here’s Why

Shares of Ero Copper Corp. (TSE:ERO) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$18.67 and last traded at C$19.12, with a volume of 160867 shares traded. The stock had previously closed at C$19.36.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Ventum Financial reduced their price target on Ero Copper from C$31.50 to C$29.00 in a report on Thursday, November 21st. TD Securities reduced their target price on Ero Copper from C$30.00 to C$27.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Scotiabank reduced their price objective on shares of Ero Copper from C$34.00 to C$30.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Canaccord Genuity Group increased their target price on shares of Ero Copper from C$39.00 to C$40.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from C$34.00 to C$36.00 in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$33.33.

Ero Copper Stock Performance

The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 82.63. The stock has a fifty day moving average price of C$23.69 and a two-hundred day moving average price of C$26.60. The company has a market capitalization of C$1.93 billion, a price-to-earnings ratio of -72.00, a PEG ratio of -0.72 and a beta of 1.98.

Insider Activity at Ero Copper

In other Ero Copper news, Director Chantal Gosselin sold 10,000 shares of the stock in a transaction on Thursday, November 28th. The stock was sold at an average price of C$21.17, for a total transaction of C$211,700.00. 10.37% of the stock is currently owned by corporate insiders.

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.