Ero Copper (TSE:ERO) Hits New 52-Week Low – Should You Sell?

Ero Copper Corp. (TSE:ERO)’s stock price hit a new 52-week low on Thursday . The company traded as low as C$17.68 and last traded at C$17.73, with a volume of 165415 shares traded. The stock had previously closed at C$18.41.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ERO shares. The Goldman Sachs Group upgraded shares of Ero Copper to a “strong-buy” rating in a research report on Monday, December 2nd. National Bankshares dropped their target price on shares of Ero Copper from C$27.00 to C$23.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 12th. Jefferies Financial Group lowered their price objective on shares of Ero Copper from C$33.00 to C$29.00 in a research report on Tuesday, January 7th. TD Securities upgraded shares of Ero Copper from a “hold” rating to a “buy” rating and lowered their price objective for the company from C$26.00 to C$23.00 in a research report on Wednesday, February 12th. Finally, Scotiabank lowered their price objective on shares of Ero Copper from C$28.50 to C$25.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ero Copper currently has a consensus rating of “Moderate Buy” and an average target price of C$30.38.

Ero Copper Stock Down 1.4 %

The company’s fifty day moving average price is C$19.60 and its 200-day moving average price is C$23.43. The stock has a market cap of C$1.20 billion, a P/E ratio of 74.72, a price-to-earnings-growth ratio of -0.72 and a beta of 1.98. The company has a debt-to-equity ratio of 83.17, a quick ratio of 1.43 and a current ratio of 0.68.

Insider Buying and Selling

In related news, Director Chantal Gosselin purchased 10,000 shares of Ero Copper stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of C$19.44 per share, with a total value of C$194,400.00. 10.37% of the stock is currently owned by insiders.

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.