Ero Copper (TSE:ERO) Shares Break Below Two Hundred Day Moving Average – Time to Sell?

Ero Copper Corp. (TSE:ERO) shares passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$42.60 and traded as low as C$41.48. Ero Copper shares last traded at C$42.45, with a volume of 413,574 shares trading hands.

Wall Street Analyst Weigh In

ERO has been the topic of a number of research reports. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and raised their price target for the company from C$41.00 to C$49.00 in a research report on Thursday, July 16th. ATB Cormark Capital Markets upped their price objective on Ero Copper from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a report on Wednesday, October 14th. BMO Capital Markets reiterated an “outperform” rating and issued a C$52.00 price objective on shares of Ero Copper in a report on Monday, September 21st. The rating follows a visit to ERO Copper’s operations after the company’s investor day. Matthew Murphy noted progress across the company’s assets. TD increased their price target on shares of Ero Copper from C$44.00 to C$45.00 and gave the company a “hold” rating in a research report on Friday, August 7th. Finally, National Bank Financial upped their price objective on shares of Ero Copper from C$52.50 to C$55.00 and gave the company an “outperform” rating in a research note on Monday, September 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$49.27.

Ero Copper Trading Down 3.6%

The firm’s 50-day simple moving average is C$47.89 and its 200-day simple moving average is C$42.60. The firm has a market capitalization of C$4.43 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of -0.72 and a beta of 1.20. The company has a quick ratio of 1.43, a current ratio of 1.38 and a debt-to-equity ratio of 36.62.

Ero Copper (TSE:ERO) last released its quarterly earnings data on Monday, November 2nd. The company reported C$1.74 EPS for the quarter. The firm had revenue of C$495.47 million for the quarter. Ero Copper had a return on equity of 34.30% and a net margin of 32.14%. Equities analysts expect that Ero Copper Corp. will post 4.74 earnings per share for the current year.

Ero Copper Company Profile

Ero is a Brazil -focused, growth-oriented mining company with a diversified portfolio of copper and gold assets. Headquartered in Vancouver, B.C., the Company operates two copper mines – the Caraíba Operations in Bahia State and the Tucumã Operation in Pará State – as well as the Xavantina Operations, a producing gold mine in Mato Grosso State. In addition to its operating assets, Ero is advancing the Furnas Copper-Gold Project, located in the mineral-rich Carajás Province in Pará State, through a definitive earn-in agreement with Vale Base Metals to acquire a 60% interest in the project.