Ero Copper (NYSE:ERO) Trading 3.3% Higher – Time to Buy?

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

Analyst Upgrades and Downgrades

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

Ero Copper Stock Up 0.3 %

The company has a market cap of $1.46 billion, a PE ratio of 83.24 and a beta of 1.15. The stock’s 50 day moving average price is $15.10 and its 200-day moving average price is $18.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently added to or reduced their stakes in the company. Impala Asset Management LLC raised its position in shares of Ero Copper by 12.7% in the 3rd quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock worth $49,208,000 after acquiring an additional 248,390 shares in the last quarter. Jennison Associates LLC raised its holdings in Ero Copper by 4.3% in the third quarter. Jennison Associates LLC now owns 5,710,827 shares of the company’s stock worth $127,149,000 after purchasing an additional 237,345 shares in the last quarter. FMR LLC increased its stake in Ero Copper by 1.8% during the 3rd quarter. FMR LLC now owns 11,869,851 shares of the company’s stock valued at $264,262,000 after purchasing an additional 206,405 shares in the last quarter. Temasek Holdings Private Ltd increased its position in shares of Ero Copper by 41.2% during the third quarter. Temasek Holdings Private Ltd now owns 542,421 shares of the company’s stock valued at $12,080,000 after acquiring an additional 158,294 shares in the last quarter. Finally, Mirabella Financial Services LLP increased its holdings in shares of Ero Copper by 608.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 143,252 shares of the company’s stock worth $3,189,000 after purchasing an additional 123,023 shares in the last quarter. Institutional investors own 71.30% of the company’s stock.

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.