Ero Copper (NYSE:ERO) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Ero Copper Corp. (NYSE:ERO)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $30.68 and traded as high as $31.62. Ero Copper shares last traded at $30.8380, with a volume of 1,597,995 shares traded.

Analysts Set New Price Targets

ERO has been the subject of several research reports. Wall Street Zen cut Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Ero Copper in a research report on Wednesday, September 23rd. Zacks Research lowered shares of Ero Copper from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Scotiabank raised Ero Copper from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday. Finally, Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and increased their price target for the stock from $30.00 to $34.00 in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.33.

Ero Copper Trading Up 1.3%

The business’s fifty day moving average is $34.92 and its two-hundred day moving average is $30.68. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 0.27 and a beta of 1.32.

Ero Copper (NYSE:ERO) last released its earnings results on Monday, November 2nd. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.05 by $0.17. The company 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 anticipate that Ero Copper Corp. will post 3.91 earnings per share for the current fiscal year.

Institutional Trading of Ero Copper

Institutional investors and hedge funds have recently modified their holdings of the stock. Cape Ann Asset Management Ltd boosted its position in shares of Ero Copper by 13.5% during the first quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock worth $51,983,000 after purchasing an additional 231,485 shares in the last quarter. Impala Asset Management LLC acquired a new stake in shares of Ero Copper during the second quarter worth $31,201,000. Kapitalo Investimentos Ltda lifted its position in Ero Copper by 0.5% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 1,082,320 shares of the company’s stock valued at $39,710,000 after acquiring an additional 5,624 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ero Copper by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 986,385 shares of the company’s stock valued at $26,298,000 after purchasing an additional 28,231 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Ero Copper by 4,913.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock valued at $26,000,000 after buying an additional 955,487 shares during the last quarter. 71.30% of the stock is owned by institutional investors.

About Ero Copper

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company’s principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.