Ero Copper (TSE:ERO) Hits New 1-Year High – Here’s What Happened

Ero Copper Corp. (TSE:ERO) shares hit a new 52-week high during trading on Friday . The stock traded as high as C$53.72 and last traded at C$53.39, with a volume of 235157 shares. The stock had previously closed at C$49.61.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank Of Canada raised their target price on Ero Copper from C$52.00 to C$53.00 in a research report on Tuesday, July 21st. TD increased 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 research note on Friday, August 7th. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and raised their price objective for the stock from C$41.00 to C$49.00 in a report on Thursday, July 16th. Jefferies Financial Group cut their target price on shares of Ero Copper from C$42.00 to C$39.00 in a research report on Monday, July 13th. Finally, National Bank Financial upped their target price on shares of Ero Copper from C$50.00 to C$52.50 and gave the company an “outperform” rating in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Ero Copper presently has an average rating of “Moderate Buy” and a consensus price target of C$47.63.

Ero Copper Stock Up 8.3%

The company has a market capitalization of C$5.61 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of -0.72 and a beta of 1.75. The company’s fifty day moving average is C$40.18 and its 200-day moving average is C$39.84. The company has a debt-to-equity ratio of 47.25, a quick ratio of 1.43 and a current ratio of 1.37.

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

Ero Copper Company Profile

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.