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

Shares of Ero Copper Corp. (NYSE:ERO) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $30.64 and traded as low as $29.02. Ero Copper shares last traded at $29.8440, with a volume of 1,032,650 shares traded.

Wall Street Analysts Forecast Growth

ERO has been the subject of several research reports. Scotiabank raised shares of Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, November 3rd. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Ero Copper in a research note on Wednesday, September 23rd. TD Securities reiterated a “hold” rating on shares of Ero Copper in a report on Friday, August 7th. Wall Street Zen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Finally, Bradesco Corretora cut Ero Copper from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.33.

Ero Copper Stock Down 3.5%

The stock has a 50 day moving average price of $34.01 and a 200 day moving average price of $30.64. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 0.28 and a beta of 1.32. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Monday, November 2nd. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.17. Ero Copper had a return on equity of 38.98% and a net margin of 32.21%. The company had revenue of $348.00 million during the quarter, compared to the consensus estimate of $342.91 million. As a group, analysts forecast that Ero Copper Corp. will post 3.86 EPS for the current year.

Institutional Investors Weigh In On Ero Copper

Several hedge funds have recently added to or reduced their stakes in ERO. Amundi grew its holdings in Ero Copper by 85.8% during the 2nd quarter. Amundi now owns 965,346 shares of the company’s stock worth $25,823,000 after acquiring an additional 445,849 shares during the last quarter. BlackRock Inc. bought a new position in shares of Ero Copper during the second quarter valued at $4,122,000. Legal & General Group Plc bought a new position in shares of Ero Copper during the second quarter valued at $2,563,000. Royal Bank of Canada raised its stake in shares of Ero Copper by 123.7% during the first quarter. Royal Bank of Canada now owns 354,638 shares of the company’s stock valued at $9,459,000 after acquiring an additional 196,101 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new position in shares of Ero Copper during the second quarter worth $9,397,000. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian mining company focused on copper production in Brazil. Its operations include the Caraíba complex in Bahia, which comprises underground and open-pit mines and processing facilities, and the Tucumã mine in Pará. The company produces copper concentrate and may recover gold and silver as byproducts. Ero Copper was established in 2016 to acquire and develop copper assets in Brazil, and Tucumã began commercial production in 2024. Headquartered in Vancouver, British Columbia, Ero Copper’s business is centered on operating and developing its Brazilian mining assets.