Ero Copper (TSE:ERO) Hits New 52-Week High – Here’s Why

Ero Copper Corp. (TSE:ERO) shares reached a new 52-week high during trading on Friday . The company traded as high as C$34.50 and last traded at C$34.36, with a volume of 6408 shares changing hands. The stock had previously closed at C$33.97.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Scotiabank upgraded Ero Copper from a “hold” rating to an “outperform” rating and increased their price objective for the stock from C$33.00 to C$36.00 in a report on Thursday, November 6th. National Bankshares boosted their price objective on shares of Ero Copper from C$27.00 to C$35.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 8th. Desjardins dropped their target price on shares of Ero Copper from C$25.00 to C$23.00 and set a “hold” rating for the company in a research report on Tuesday, August 5th. Cibc World Mkts downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, CIBC cut Ero Copper from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from C$22.50 to C$37.00 in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ero Copper currently has an average rating of “Hold” and an average price target of C$32.40.

Ero Copper Price Performance

The firm has a market cap of C$3.66 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of -0.72 and a beta of 1.59. The company has a debt-to-equity ratio of 83.17, a current ratio of 0.68 and a quick ratio of 1.43. The firm’s 50 day moving average is C$30.02 and its 200 day moving average is C$23.81.

Ero Copper (TSE:ERO) last announced its earnings results on Tuesday, November 4th. The company reported C$0.35 earnings per share for the quarter. Ero Copper had a net margin of 3.45% and a return on equity of 2.24%. The business had revenue of C$246.59 million during the quarter. As a group, analysts anticipate that Ero Copper Corp. will post 4.7442244 earnings per share for the current year.

About Ero Copper

Ero Copper Corp is a base metals mining company. It is focused on the production and sale of copper from the Vale do Curaca Property in Brazil, with gold and silver produced and sold as by-products from the same. Ero’s operations are segmented between MCSA, NX Gold, and corporate. Ore is processed using conventional crushing and flotation at the Caraiba Mill, located adjacent to the Pilar underground mine.