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

Ero Copper Corp. (TSE:ERO - Get Free Report) 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 changed hands during mid-day trading, a decline of 76% from the average daily volume of 348,392 shares. The stock had previously closed at C$21.54.

Analyst Ratings Changes

ERO has been the subject of a number of analyst reports. National Bankshares cut shares of Ero Copper from an "outperform" rating to a "sector perform" rating and set a C$24.50 target price for the company. in a research note on Wednesday. Canaccord Genuity Group reduced their target price on shares of Ero Copper from C$26.50 to C$26.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Scotiabank boosted their price objective on shares of Ero Copper from C$24.00 to C$26.00 in a research note on Monday, June 16th. BMO Capital Markets boosted their price objective on shares of Ero Copper from C$24.00 to C$27.00 and gave the stock an "outperform" rating in a research note on Friday, July 4th. Finally, TD Securities boosted their price objective on shares of Ero Copper from C$20.00 to C$22.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of C$27.85.

Ero Copper Trading Up 2.5%

The stock has a market capitalization of C$1.45 billion, a price-to-earnings ratio of 90.34, a PEG ratio of -0.72 and a beta of 1.98. The company's 50 day moving average is C$20.56 and its 200 day moving average is C$19.06. The company has a debt-to-equity ratio of 83.17, a quick ratio of 1.43 and a current ratio of 0.68.

Ero Copper Company Profile

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.