Ero Copper (TSE:ERO) Hits New 52-Week High – What’s Next?

Ero Copper Corp. (TSE:ERO) hit a new 52-week high during trading on Thursday . The company traded as high as C$56.62 and last traded at C$54.49, with a volume of 357663 shares trading hands. The stock had previously closed at C$55.85.

Analysts Set New Price Targets

ERO has been the subject of a number of recent research reports. TD boosted their price objective on shares of Ero Copper from C$44.00 to C$45.00 and gave the stock a “hold” rating in a report on Friday, August 7th. Scotiabank increased their target price on shares of Ero Copper from C$50.00 to C$55.00 and gave the company a “sector outperform” rating in a report on Monday, June 15th. Jefferies Financial Group decreased their target price on shares of Ero Copper from C$42.00 to C$39.00 in a research report on Monday, July 13th. National Bank Financial boosted their price target on shares of Ero Copper from C$50.00 to C$52.50 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Finally, Bank of America upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating and upped their price target for the company from C$41.00 to C$49.00 in a research report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Ero Copper presently has a consensus rating of “Moderate Buy” and an average target price of C$47.63.

Ero Copper Stock Down 2.1%

The company has a quick ratio of 1.43, a current ratio of 1.37 and a debt-to-equity ratio of 47.25. The company has a 50-day simple moving average of C$41.65 and a two-hundred day simple moving average of C$40.24. The stock has a market cap of C$5.63 billion, a P/E ratio of 18.30, a P/E/G ratio of -0.72 and a beta of 1.75.

Ero Copper (TSE:ERO) last released its quarterly earnings data on Wednesday, August 5th. The company reported C$1.18 earnings per share for the quarter. Ero Copper had a return on equity of 30.09% and a net margin of 29.72%.The firm had revenue of C$403.95 million during the quarter. On average, equities analysts forecast that Ero Copper Corp. will post 4.7442244 EPS for the current 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.