Ero Copper (TSE:ERO) Hits New 1-Year Low - Here's What Happened

Ero Copper Corp. (TSE:ERO) saw its stock price drop to a new 52-week low on Tuesday, trading as low as C$18.23 before recovering slightly to C$18.39. This drop came as 742,912 shares were traded, compared to the previous closing price of C$19.88.

Analyst Ratings Changes

Recently, several analysts provided updates on Ero Copper. National Bank lowered its price target from C$33.00 to C$31.50, maintaining a 'sector perform' rating as of October 15th. Eight Capital adjusted their target down from C$40.00 to C$34.00 on November 6th. Scotiabank also lowered its price target from C$34.00 to C$30.00 and awarded an 'outperform' rating as of December 11th. Additionally, Ventum Financial reduced its price target from C$31.50 to C$29.00 in late November. However, The Goldman Sachs Group upgraded the stock to a 'strong-buy' rating on December 2nd. Overall, four analysts have given Ero Copper a hold rating, seven rated it a buy, and two assigned it a strong buy rating. According to MarketBeat, the average rating is 'Moderate Buy' with a price target of C$32.92.

Ero Copper Stock Performance

The company boasts a market capitalization of C$1.91 billion. Its price-to-earnings ratio stands at -71.12, alongside a price-to-earnings-growth ratio of -0.72 and a beta of 1.98. The 50-day moving average is C$19.94, while the 200-day moving average is C$24.17. Financially, Ero Copper has a current ratio of 0.68, a quick ratio of 1.43, and a debt-to-equity ratio of 82.63.

Insider Activity

In a recent insider transaction, Director Chantal Gosselin purchased 10,000 shares of Ero Copper at an average price of C$19.44 per share. This purchase totaled C$194,400. Company insiders now own 10.37% of the stock.

About Ero Copper

Ero Copper Corp. focuses on exploration, development, and production within the mining sector in Brazil. The company operates the Caraíba mining facility located in the Curaçá Valley of northeastern Bahia, Brazil, where it primarily produces and sells copper concentrate, alongside gold and silver as by-products.

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Ero, Copper, Stocks