Ero Copper (TSE:ERO) Hits New 12-Month Low – Here’s What Happened

Ero Copper Corp. (TSE:ERO) shares hit a new 52-week low on Friday . The stock traded as low as C$18.14 and last traded at C$18.14, with a volume of 334329 shares trading hands. The stock had previously closed at C$19.26.

Analysts Set New Price Targets

Several brokerages recently weighed in on ERO. Ventum Financial cut their price objective on shares of Ero Copper from C$31.50 to C$29.00 in a research report on Thursday, November 21st. The Goldman Sachs Group upgraded Ero Copper to a “strong-buy” rating in a report on Monday, December 2nd. Jefferies Financial Group lowered their price target on Ero Copper from C$33.00 to C$29.00 in a report on Tuesday, January 7th. Raymond James lowered their price target on Ero Copper from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Finally, National Bankshares lowered their price target on Ero Copper from C$27.00 to C$23.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Ero Copper currently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.38.

Ero Copper Price Performance

The company has a debt-to-equity ratio of 83.17, a current ratio of 0.68 and a quick ratio of 1.43. The stock’s 50 day simple moving average is C$19.71 and its two-hundred day simple moving average is C$23.70. The stock has a market cap of C$1.27 billion, a price-to-earnings ratio of 79.53, a P/E/G ratio of -0.72 and a beta of 1.98.

Insiders Place Their Bets

In related news, Director Chantal Gosselin acquired 10,000 shares of the business’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of C$19.44 per share, with a total value of C$194,400.00. Corporate insiders own 10.37% of the company’s stock.

About Ero Copper

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.