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

Ero Copper Corp. (TSE:ERO) shares hit a new 52-week high during trading 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 traded. The stock had previously closed at C$45.00.

A number of other brokerages also recently issued reports on ERO. Scotiabank increased their price target on Ero Copper from C$36.00 to C$45.00 in a research report on Thursday, January 8th. National Bankshares increased their target price on Ero Copper from C$27.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 8th. Ventum Cap Mkts upgraded Ero Copper to a “strong-buy” rating in a research report on Monday, November 3rd. Cibc World Mkts downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, CIBC increased their price objective on shares of Ero Copper from C$37.00 to C$42.00 in a research note on Friday, December 5th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$38.20.

Ero Copper Trading Up 1.9%

The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 83.17. The firm has a market capitalization of C$4.76 billion, a P/E ratio of 34.47, a P/E/G ratio of -0.72 and a beta of 1.97. The firm has a 50-day moving average of C$37.40 and a two-hundred day moving average of C$28.94.

Ero Copper (TSE:ERO) last released its earnings results on Tuesday, November 4th. The company reported C$0.27 earnings per share (EPS) for the quarter. The firm had revenue of C$246.59 million for the quarter. Ero Copper had a return on equity of 2.24% and a net margin of 3.45%. On average, analysts anticipate that Ero Copper Corp. will post 4.7442244 EPS for the current year.

Ero Copper Company Profile