Ero Copper (NYSE:ERO) Shares Down 2.8% - Should You Sell?

Ero Copper Corp. (NYSE:ERO - Get Free Report)'s stock price was down 2.8% during trading on Thursday . The company traded as low as $17.01 and last traded at $16.97. Approximately 130,642 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 415,259 shares. The stock had previously closed at $17.46.

Analyst Ratings Changes

A number of equities analysts recently commented on ERO shares. Desjardins started coverage on shares of Ero Copper in a research note on Friday, April 4th. They issued a "hold" rating for the company. Wall Street Zen raised shares of Ero Copper from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. BMO Capital Markets reissued an "outperform" rating on shares of Ero Copper in a research note on Friday. Raymond James Financial raised shares of Ero Copper to a "moderate buy" rating in a research note on Monday, June 30th. Finally, TD Securities reissued a "buy" rating on shares of Ero Copper in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $26.33.

Ero Copper Stock Performance

The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average of $14.73 and a 200-day moving average of $13.50. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 99.59 and a beta of 1.18.

Ero Copper (NYSE:ERO - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.17 by $0.18. Ero Copper had a net margin of 3.87% and a return on equity of 14.24%. The company had revenue of $125.10 million for the quarter, compared to analyst estimates of $179.45 million. As a group, sell-side analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Ero Copper

Several hedge funds have recently modified their holdings of the company. Acuitas Investments LLC purchased a new position in Ero Copper in the 1st quarter valued at about $39,000. State of Wyoming purchased a new position in Ero Copper in the 4th quarter valued at about $76,000. Northwest & Ethical Investments L.P. lifted its stake in Ero Copper by 19.1% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company's stock valued at $88,000 after buying an additional 1,050 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in Ero Copper by 128.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company's stock valued at $143,000 after buying an additional 6,000 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Ero Copper by 59.5% in the 4th quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock valued at $144,000 after buying an additional 3,990 shares in the last quarter. 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.