Ero Copper (TSE:ERO) Reaches New 12-Month High Following Analyst Upgrade

Shares of Ero Copper Corp. (TSE:ERO) reached a new 52-week high on Tuesday after Desjardins raised their price target on the stock from C$37.50 to C$45.00. Desjardins currently has a hold rating on the stock. Ero Copper traded as high as C$48.13 and last traded at C$45.85, with a volume of 622154 shares trading hands. The stock had previously closed at C$45.00.

ERO has been the topic of several other research reports. Raymond James Financial upped their price objective on Ero Copper from C$33.00 to C$40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 2nd. Cibc World Mkts cut Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Ventum Cap Mkts raised Ero Copper to a “strong-buy” rating in a report on Monday, November 3rd. Freedom Capital upgraded shares of Ero Copper to a “strong-buy” rating in a report on Tuesday, December 30th. Finally, Stifel Nicolaus lowered shares of Ero Copper from a “buy” rating to a “hold” rating and increased their price objective for the company from C$26.00 to C$37.00 in a research report on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$38.20.

Ero Copper Stock Up 1.9%

The stock has a fifty day moving average price of C$37.40 and a two-hundred day moving average price of C$28.94. The company has a market cap of C$4.76 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of -0.72 and a beta of 1.97. The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 83.17.

Ero Copper (TSE:ERO) last released its quarterly earnings results on Tuesday, November 4th. The company reported C$0.27 EPS 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 for the quarter. As a group, sell-side analysts expect that Ero Copper Corp. will post 4.7442244 EPS for the current year.

About Ero Copper