Ero Copper (TSE:ERO) Sets New 52-Week High - Time to Buy?

Key Points

• Ero Copper reached a new 52-week high trading at C$33.87, reflecting significant interest in the stock with a volume of 340,569 shares traded.
• Analysts have mixed opinions on the stock; while some have upgraded their ratings to "strong buy," others have downgraded or set lower price targets, leading to an average rating of "Moderate Buy" and a price target of C$28.83.
• The company specializes in copper production from its Vale do Curaca Property in Brazil, with gold and silver as by-products, and has a market capitalization of C$3.48 billion.

Ero Copper Corp. (TSE:ERO - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as C$33.87 and last traded at C$33.22, with a volume of 340569 shares trading hands. The stock had previously closed at C$33.07.

Wall Street Analysts Forecast Growth

ERO has been the subject of several analyst reports. Stifel Nicolaus cut their price target on Ero Copper from C$29.00 to C$26.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. Stifel Canada upgraded Ero Copper to a "strong-buy" rating in a research note on Tuesday, July 8th. Scotiabank cut Ero Copper from an "outperform" rating to a "hold" rating and upped their price target for the stock from C$26.50 to C$32.00 in a research note on Tuesday. Desjardins cut their price target on Ero Copper from C$25.00 to C$23.00 and set a "hold" rating for the company in a research note on Tuesday, August 5th. Finally, CIBC cut Ero Copper from an "outperform" rating to a "neutral" rating and upped their price target for the stock from C$22.50 to C$37.00 in a research note on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Ero Copper has an average rating of "Moderate Buy" and an average price target of C$28.83.

Ero Copper Price Performance

The stock has a fifty day moving average of C$23.30 and a two-hundred day moving average of C$20.49. The stock has a market cap of C$3.48 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of -0.72 and a beta of 1.52. The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 83.17.

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.

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