Ero Copper (NYSE:ERO) Shares Up 3.3% – What’s Next?

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

Wall Street Analysts Forecast Growth

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

Ero Copper Price Performance

The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.49 billion, a PE ratio of 84.71 and a beta of 1.15. The firm’s 50 day simple moving average is $14.92 and its 200 day simple moving average is $18.53.

Institutional Trading of Ero Copper

Large investors have recently made changes to their positions in the stock. Toronto Dominion Bank increased 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 worth $1,285,000 after purchasing an additional 55,163 shares during the period. Goehring & Rozencwajg Associates LLC grew its position in shares of Ero Copper by 22.5% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock worth $7,266,000 after buying an additional 62,500 shares in the last quarter. Old West Investment Management LLC increased its stake in shares of Ero Copper by 100.0% during the third quarter. Old West Investment Management LLC now owns 160,000 shares of the company’s stock valued at $3,563,000 after buying an additional 80,000 shares during the period. Impala Asset Management LLC raised its holdings in shares of Ero Copper by 12.7% in the third quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock valued at $49,208,000 after acquiring an additional 248,390 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in Ero Copper during the 2nd quarter worth about $2,521,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

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.