Ero Copper (TSE:ERO) Hits New 52-Week High – Time to Buy?

Ero Copper Corp. (TSE:ERO) shares hit a new 52-week high on Friday . The company traded as high as C$53.72 and last traded at C$53.39, with a volume of 235157 shares changing hands. The stock had previously closed at C$49.61.

Analysts Set New Price Targets

ERO has been the topic of a number of research reports. Scotiabank upped their price target on shares of Ero Copper from C$50.00 to C$55.00 and gave the stock a “sector outperform” rating in a research note on Monday, June 15th. Royal Bank Of Canada lifted their price objective on Ero Copper from C$52.00 to C$53.00 in a research report on Tuesday, July 21st. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and boosted their target price for the company from C$41.00 to C$49.00 in a research note on Thursday, July 16th. Jefferies Financial Group dropped their target price on Ero Copper from C$42.00 to C$39.00 in a research report on Monday, July 13th. Finally, TD raised their price target on Ero Copper from C$44.00 to C$45.00 and gave the stock a “hold” rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$47.63.

Ero Copper Price Performance

The stock has a 50 day moving average of C$40.44 and a two-hundred day moving average of C$39.94. The company has a debt-to-equity ratio of 47.25, a quick ratio of 1.43 and a current ratio of 1.37. The firm has a market capitalization of C$5.65 billion, a P/E ratio of 18.37, a P/E/G ratio of -0.72 and a beta of 1.75.

Ero Copper (TSE:ERO) last posted its earnings results on Wednesday, August 5th. The company reported C$1.18 earnings per share for the quarter. The firm had revenue of C$403.95 million during the quarter. Ero Copper had a return on equity of 30.09% and a net margin of 29.72%. Sell-side analysts predict that Ero Copper Corp. will post 4.7442244 earnings per share for the current fiscal year.

About Ero Copper

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.