Ero Copper (NYSE:ERO) Shares Break Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Ero Copper fell below its 200-day moving average of $30.64, trading as low as $29.02 and last quoted at $29.844, down 3.5%.
• Analyst views are mixed, but the consensus rating is Hold, with a $32.33 average price target; 7 analysts rate it Buy, 7 Hold, and 1 Sell.
• The company beat quarterly expectations, reporting EPS of $1.22 versus $1.05 forecast and revenue of $348 million versus $342.91 million expected.

Ero Copper Corp. (NYSE:ERO - Get Free Report)'s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $30.64 and traded as low as $29.02. Ero Copper shares last traded at $29.8440, with a volume of 1,032,650 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Securities reaffirmed a "hold" rating on shares of Ero Copper in a report on Friday, August 7th. Bank of America raised Ero Copper from a "neutral" rating to a "buy" rating and increased their target price for the stock from $30.00 to $34.00 in a report on Thursday, July 16th. Freedom Broker cut Ero Copper from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 3rd. Zacks Research cut Ero Copper from a "hold" rating to a "strong sell" rating in a research report on Monday, October 19th. Finally, Bradesco Corretora downgraded Ero Copper from an "outperform" rating to a "neutral" rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Ero Copper currently has an average rating of "Hold" and a consensus price target of $32.33.

Ero Copper Trading Down 3.5%

The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 8.00, a P/E/G ratio of 0.28 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The firm's 50-day simple moving average is $34.01 and its 200 day simple moving average is $30.64.

Ero Copper (NYSE:ERO - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.17. The firm had revenue of $348.00 million during the quarter, compared to analysts' expectations of $342.91 million. Ero Copper had a return on equity of 38.98% and a net margin of 32.21%. Equities analysts expect that Ero Copper Corp. will post 3.86 earnings per share for the current year.

Institutional Trading of Ero Copper

Several institutional investors and hedge funds have recently modified their holdings of ERO. Amundi grew its position in Ero Copper by 85.8% in the second quarter. Amundi now owns 965,346 shares of the company's stock valued at $25,823,000 after acquiring an additional 445,849 shares during the last quarter. BlackRock Inc. acquired a new position in Ero Copper during the second quarter worth about $4,122,000. Legal & General Group Plc bought a new position in shares of Ero Copper in the second quarter worth about $2,563,000. Royal Bank of Canada lifted its holdings in shares of Ero Copper by 123.7% in the first quarter. Royal Bank of Canada now owns 354,638 shares of the company's stock worth $9,459,000 after acquiring an additional 196,101 shares during the last quarter. Finally, Jupiter Topco LLC bought a new position in shares of Ero Copper in the second quarter worth about $9,397,000. 71.30% of the stock is currently owned by institutional investors.

About Ero Copper

Ero Copper Corp. is a Canadian mining company focused on copper production in Brazil. Its operations include the Caraíba complex in Bahia, which comprises underground and open-pit mines and processing facilities, and the Tucumã mine in Pará. The company produces copper concentrate and may recover gold and silver as byproducts. Ero Copper was established in 2016 to acquire and develop copper assets in Brazil, and Tucumã began commercial production in 2024. Headquartered in Vancouver, British Columbia, Ero Copper's business is centered on operating and developing its Brazilian mining assets.

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