Ero Copper (NYSE:ERO) Shares Down 4.1% – Should You Sell?

Shares of Ero Copper Corp. (NYSE:ERO) fell 4.1% during mid-day trading on Friday . The stock traded as low as $30.06 and last traded at $30.2640. 1,124,006 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 2,349,402 shares. The stock had previously closed at $31.55.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ERO shares. Canaccord Genuity Group upgraded Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, January 14th. Jefferies Financial Group downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a report on Monday, January 26th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Ero Copper in a report on Friday, December 5th. Finally, Wall Street Zen lowered shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Ero Copper currently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Ero Copper Price Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. The company has a fifty day moving average price of $29.02 and a two-hundred day moving average price of $21.93. The company has a market cap of $3.19 billion, a P/E ratio of 23.02 and a beta of 1.20.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09). Ero Copper had a return on equity of 17.07% and a net margin of 23.44%.The company had revenue of $177.10 million for the quarter, compared to analyst estimates of $309.30 million. On average, sell-side analysts anticipate that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Institutional Trading of Ero Copper

A number of large investors have recently added to or reduced their stakes in ERO. TD Waterhouse Canada Inc. increased its stake in shares of Ero Copper by 2.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company’s stock worth $503,000 after purchasing an additional 380 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Ero Copper by 3.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company’s stock worth $513,000 after purchasing an additional 574 shares during the period. FNY Investment Advisers LLC acquired a new position in Ero Copper during the fourth quarter worth approximately $25,000. Envestnet Asset Management Inc. raised its stake in Ero Copper by 2.1% in the second quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock valued at $948,000 after buying an additional 1,152 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Ero Copper by 3.4% in the second quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock valued at $936,000 after buying an additional 1,823 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

About Ero Copper

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.