Ero Copper (TSE:ERO) Stock Breaks Above Two Hundred Day Moving Average - Here's Why

Key Points

• Ero Copper shares broke above their 200-day moving average, reaching C$44.05 before closing at C$43.72 on trading volume of 526,185 shares.
• Analyst sentiment remains positive but mixed: MarketBeat reports a “Moderate Buy” consensus, with an average price target of C$48.67 compared with the latest share price.
• The company reported quarterly earnings of C$1.18 per share on revenue of C$403.95 million, alongside a 29.72% net margin and 30.09% return on equity.

Shares of Ero Copper Corp. (TSE:ERO - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$42.57 and traded as high as C$44.05. Ero Copper shares last traded at C$43.72, with a volume of 526,185 shares trading hands.

Wall Street Analyst Weigh In

ERO has been the subject of several analyst reports. Jefferies Financial Group reduced their price target on shares of Ero Copper from C$42.00 to C$39.00 in a report on Monday, July 13th. Scotiabank cut shares of Ero Copper from a "sector outperform" rating to a "sector perform" rating and set a C$55.00 price objective on the stock. in a report on Tuesday, October 13th. Canadian Imperial Bank of Commerce increased their price objective on shares of Ero Copper from C$52.00 to C$56.00 in a report on Wednesday, September 23rd. Royal Bank Of Canada lifted their price objective on shares of Ero Copper from C$52.00 to C$53.00 in a research report on Tuesday, July 21st. Finally, ATB Cormark Capital Markets boosted their target price on shares of Ero Copper from C$50.00 to C$55.00 and gave the company an "outperform" rating in a research note on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$48.67.

Ero Copper Stock Performance

The stock has a market cap of C$4.56 billion, a price-to-earnings ratio of 14.82, a PEG ratio of -0.72 and a beta of 1.58. The company's 50 day simple moving average is C$50.10 and its 200 day simple moving average is C$42.57. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported C$1.18 earnings per share for the quarter. The company 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%. On average, equities research analysts anticipate that Ero Copper Corp. will post 4.74 earnings per share for the current 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.

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