Ero Copper (TSE:ERO) Reaches New 12-Month Low – What’s Next?

Ero Copper Corp. (TSE:ERO) shares reached a new 52-week low on Thursday . The company traded as low as C$16.03 and last traded at C$16.08, with a volume of 116138 shares traded. The stock had previously closed at C$17.87.

Wall Street Analyst Weigh In

ERO has been the subject of several research reports. TD Securities reduced their price objective on Ero Copper from C$23.00 to C$22.00 and set a “buy” rating for the company in a report on Monday, March 10th. National Bankshares cut their price target on Ero Copper from C$27.00 to C$23.50 and set a “sector perform” rating for the company in a report on Wednesday, February 12th. Canaccord Genuity Group decreased their price objective on Ero Copper from C$29.00 to C$25.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Jefferies Financial Group dropped their price objective on Ero Copper from C$33.00 to C$29.00 in a research report on Tuesday, January 7th. Finally, Raymond James reduced their target price on shares of Ero Copper from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.58.

Ero Copper Stock Performance

The stock has a 50 day simple moving average of C$18.79 and a 200 day simple moving average of C$21.98. The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 83.17. The company has a market cap of C$1.11 billion, a price-to-earnings ratio of 69.29, a PEG ratio of -0.72 and a beta of 1.98.

Ero Copper Company Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.