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

Ero Copper Corp. (TSE:ERO) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$44.52 and last traded at C$42.76, with a volume of 252967 shares trading hands. The stock had previously closed at C$42.86.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ERO. Raymond James Financial raised their target price on shares of 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. TD Securities cut Ero Copper from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$24.00 to C$33.00 in a research report on Tuesday, October 21st. National Bankshares raised their price objective on 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. Cibc World Mkts cut Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, Stifel Nicolaus downgraded Ero Copper from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$26.00 to C$37.00 in a report on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$34.80.

Ero Copper Stock Performance

The business has a fifty day moving average price of C$36.33 and a 200-day moving average price of C$28.28. The stock has a market capitalization of C$4.47 billion, a P/E ratio of 32.37, 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 issued its earnings results on Tuesday, November 4th. The company reported C$0.27 earnings per share for the quarter. The business had revenue of C$246.59 million during the quarter. Ero Copper had a return on equity of 2.24% and a net margin of 3.45%. On average, sell-side analysts expect that Ero Copper Corp. will post 4.7442244 EPS for the current year.

About Ero Copper