Ero Copper (TSE:ERO) Shares Down 5.2% - Here's Why

Ero Copper Corp. (TSE:ERO - Get Free Report) shares dropped 5.2% during mid-day trading on Wednesday . The company traded as low as C$20.39 and last traded at C$20.43. Approximately 82,954 shares traded hands during trading, a decline of 76% from the average daily volume of 348,392 shares. The stock had previously closed at C$21.54.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. National Bankshares downgraded Ero Copper from an "outperform" rating to a "sector perform" rating and set a C$24.50 target price on the stock. in a report on Wednesday. Stifel Canada raised Ero Copper to a "strong-buy" rating in a report on Tuesday. TD Securities raised their price target on shares of Ero Copper from C$20.00 to C$22.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James Financial upgraded shares of Ero Copper to a "moderate buy" rating in a research report on Monday, June 30th. Finally, National Bank Financial cut shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ero Copper currently has an average rating of "Buy" and a consensus target price of C$27.85.

Ero Copper Trading Up 3.2%

The company has a debt-to-equity ratio of 83.17, a quick ratio of 1.43 and a current ratio of 0.68. The company has a market cap of C$1.41 billion, a price-to-earnings ratio of 88.10, a price-to-earnings-growth ratio of -0.72 and a beta of 1.98. The company's 50 day moving average price is C$20.50 and its 200 day moving average price is C$19.06.

About Ero Copper

Ero Copper Corp is a base metals mining company. It is focused on the production and sale of copper from the Vale do Curaca Property in Brazil, with gold and silver produced and sold as by-products from the same. Ero's operations are segmented between MCSA, NX Gold, and corporate. Ore is processed using conventional crushing and flotation at the Caraiba Mill, located adjacent to the Pilar underground mine.