Ero Copper (TSE:ERO) Stock Price Down 5.2% - What's Next?

Ero Copper Corp. (TSE:ERO - Get Free Report) dropped 5.2% during 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.

Wall Street Analyst Weigh In

Several research firms recently commented on ERO. TD Securities lifted their price objective on Ero Copper from C$20.00 to C$22.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Raymond James Financial upgraded Ero Copper to a "moderate buy" rating in a research note on Monday, June 30th. National Bankshares downgraded Ero Copper from an "outperform" rating to a "sector perform" rating and set a C$24.50 price target for the company. in a research note on Wednesday. Canaccord Genuity Group cut their price target on 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. Finally, Stifel Canada upgraded Ero Copper to a "strong-buy" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the 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 Stock Performance

The stock has a 50 day moving average of C$20.50 and a two-hundred day moving average of C$19.06. The stock has a market capitalization of C$1.44 billion, a PE ratio of 89.64, a P/E/G ratio of -0.72 and a beta of 1.98. The company has a debt-to-equity ratio of 83.17, a current ratio of 0.68 and a quick ratio of 1.43.

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.