Ero Copper (TSE:ERO) Sets New 12-Month High - Time to Buy?

Key Points

• Ero Copper shares surged 8.3% to C$53.39 after reaching a new 52-week high of C$53.72, well above its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus from 15 analysts and an average price target of C$47.63. Ratings and targets are mixed, ranging from “Hold” to “Strong Buy,” with recent targets as high as C$53.00.
• The company reported C$1.18 in quarterly EPS and C$403.95 million in revenue, alongside a 30.09% return on equity and 29.72% net margin. Ero operates copper and gold assets in Brazil and is advancing the Furnas Copper-Gold Project.

Ero Copper Corp. (TSE:ERO - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as C$53.72 and last traded at C$53.39, with a volume of 235157 shares traded. The stock had previously closed at C$49.61.

Analysts Set New Price Targets

ERO has been the topic of several research reports. Jefferies Financial Group dropped their price objective on shares of Ero Copper from C$42.00 to C$39.00 in a research note on Monday, July 13th. TD lifted their target price on shares of Ero Copper from C$44.00 to C$45.00 and gave the company a "hold" rating in a report on Friday, August 7th. Bank of America raised Ero Copper from a "neutral" rating to a "buy" rating and boosted their price target for the stock from C$41.00 to C$49.00 in a research report on Thursday, July 16th. Stifel Nicolaus raised their price objective on Ero Copper from C$52.00 to C$53.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Finally, National Bank Financial raised their price objective on Ero Copper from C$50.00 to C$52.50 and gave the company an "outperform" rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Ero Copper presently has an average rating of "Moderate Buy" and an average target price of C$47.63.

Ero Copper Trading Up 8.3%

The stock has a fifty day simple moving average of C$40.18 and a 200 day simple moving average of 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. The firm has a market cap of C$5.61 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of -0.72 and a beta of 1.75.

Ero Copper (TSE:ERO - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported C$1.18 EPS for the quarter. Ero Copper had a return on equity of 30.09% and a net margin of 29.72%.The company had revenue of C$403.95 million for the quarter. On average, research analysts expect that Ero Copper Corp. will post 4.7442244 earnings per share for the current fiscal year.

About Ero Copper

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.

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