Ero Copper (TSE:ERO) Reaches New 1-Year High – Here’s Why

Ero Copper Corp. (TSE:ERO) reached a new 52-week high during trading on Friday . The stock 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.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Stifel Nicolaus downgraded shares of Ero Copper from a “buy” rating to a “hold” rating and raised their target price for the company from C$26.00 to C$37.00 in a research note on Tuesday, October 21st. Canaccord Genuity Group cut Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Raymond James Financial raised their target price on Ero Copper from C$28.00 to C$33.00 in a report on Friday, October 10th. Scotiabank upgraded Ero Copper from a “hold” rating to an “outperform” rating and boosted their price target for the company from C$33.00 to C$36.00 in a report on Thursday, November 6th. Finally, Jefferies Financial Group lifted their price objective on shares of Ero Copper from C$34.00 to C$37.00 in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$32.40.

Ero Copper Price Performance

The business’s 50 day simple moving average is C$29.78 and its 200-day simple moving average is C$23.66. The stock has a market capitalization of C$3.58 billion, a price-to-earnings ratio of 25.91, 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 quick ratio of 1.43 and a current ratio of 0.68.

Ero Copper (TSE:ERO) last issued its quarterly earnings data on Tuesday, November 4th. The company reported C$0.35 earnings per share for the quarter. The business had revenue of C$246.59 million for the quarter. Ero Copper had a net margin of 3.45% and a return on equity of 2.24%. Research 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.