Ero Copper (TSE:ERO) Hits New 12-Month Low – Here’s Why

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 changing hands. The stock had previously closed at C$17.87.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ERO. Raymond James raised their price target on Ero Copper from C$26.00 to C$28.00 in a report on Friday. Scotiabank cut their target price on shares of Ero Copper from C$28.50 to C$25.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. National Bankshares decreased their price target on shares of Ero Copper from C$27.00 to C$23.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 12th. Jefferies Financial Group cut their price objective on shares of Ero Copper from C$25.00 to C$22.00 in a research report on Friday. Finally, Desjardins raised Ero Copper to a “hold” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$30.00.

Ero Copper Trading Down 11.0 %

The company has a debt-to-equity ratio of 83.17, a quick ratio of 1.43 and a current ratio of 0.68. The company has a market capitalization of C$988.82 million, a price-to-earnings ratio of 61.68, a price-to-earnings-growth ratio of -0.72 and a beta of 1.98. The firm has a fifty day moving average price of C$18.58 and a 200-day moving average price of C$21.88.

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.