Ero Copper (NYSE:ERO) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Ero Copper Corp. (NYSE:ERO) saw strong trading volume on Tuesday . 672,307 shares were traded during trading, an increase of 56% from the previous session’s volume of 430,897 shares.The stock last traded at $13.08 and had previously closed at $13.88.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ERO. StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. The Goldman Sachs Group began coverage on shares of Ero Copper in a report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Ero Copper has a consensus rating of “Buy” and a consensus price target of $26.33.

Ero Copper Price Performance

The company’s 50-day simple moving average is $13.86 and its 200-day simple moving average is $17.33. The stock has a market capitalization of $1.34 billion, a P/E ratio of 76.32 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently bought and sold shares of ERO. Northwest & Ethical Investments L.P. boosted its stake in shares of Ero Copper by 19.1% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company’s stock worth $88,000 after acquiring an additional 1,050 shares during the period. Sentry Investment Management LLC increased its holdings in shares of Ero Copper by 5.8% in the fourth quarter. Sentry Investment Management LLC now owns 21,716 shares of the company’s stock valued at $293,000 after purchasing an additional 1,188 shares during the last quarter. Swiss National Bank raised its position in shares of Ero Copper by 0.6% in the fourth quarter. Swiss National Bank now owns 194,100 shares of the company’s stock valued at $2,616,000 after purchasing an additional 1,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ero Copper by 6.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,408 shares of the company’s stock worth $522,000 after buying an additional 1,475 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Ero Copper during the 3rd quarter worth about $38,000. Institutional investors own 71.30% of the company’s stock.

Ero Copper Company Profile

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.