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

Ero Copper Corp. (TSE:ERO - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$56.62 and last traded at C$54.49, with a volume of 357663 shares. The stock had previously closed at C$55.85.

Wall Street Analysts Forecast Growth

ERO has been the subject of several recent analyst reports. Scotiabank upped their target price on shares of Ero Copper from C$50.00 to C$55.00 and gave the stock a "sector outperform" rating in a research report on Monday, June 15th. Stifel Nicolaus lifted their price target on Ero Copper from C$52.00 to C$53.00 and gave the company a "hold" rating in a report on Tuesday, July 21st. Jefferies Financial Group reduced their price target on Ero Copper from C$42.00 to C$39.00 in a research report on Monday, July 13th. National Bank Financial boosted their price objective on Ero Copper from C$50.00 to C$52.50 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Finally, Bank of America raised shares of Ero Copper from a "neutral" rating to a "buy" rating and lifted their target price for the stock from C$41.00 to C$49.00 in a research report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$47.63.

Ero Copper Trading Down 2.4%

The business has a 50-day moving average price of C$41.16 and a 200-day moving average price of C$40.04. The firm has a market capitalization of C$5.68 billion, a P/E ratio of 18.47, a PEG ratio of -0.72 and a beta of 1.75. The company has a quick ratio of 1.43, a current ratio of 1.37 and a debt-to-equity ratio of 47.25.

Ero Copper (TSE:ERO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported C$1.18 earnings per share (EPS) for the quarter. The firm had revenue of C$403.95 million during the quarter. Ero Copper had a net margin of 29.72% and a return on equity of 30.09%. Analysts anticipate that Ero Copper Corp. will post 4.7442244 earnings per share for the current 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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