Ero Copper (TSE:ERO) Stock Price Expected to Rise, CIBC Analyst Says

Ero Copper (TSE:ERO) had its target price lifted by research analysts at CIBC from C$37.00 to C$42.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 21.21% from the company’s current price.

A number of other brokerages have also issued reports on ERO. Stifel Nicolaus lowered Ero Copper from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$26.00 to C$37.00 in a research note on Tuesday, October 21st. Ventum Cap Mkts raised shares of Ero Copper to a “strong-buy” rating in a research note on Monday, November 3rd. Scotiabank raised shares of Ero Copper from a “hold” rating to an “outperform” rating and upped their price objective for the company from C$33.00 to C$36.00 in a research note on Thursday, November 6th. Jefferies Financial Group upped their target price on Ero Copper from C$34.00 to C$37.00 in a report on Friday, October 17th. Finally, TD Securities downgraded Ero Copper from a “buy” rating to a “hold” rating and raised their target price for the stock from C$24.00 to C$33.00 in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$33.60.

Ero Copper Stock Performance

TSE:ERO traded down C$0.45 during trading hours on Friday, reaching C$34.65. The company had a trading volume of 248,653 shares, compared to its average volume of 375,617. The company has a debt-to-equity ratio of 83.17, a current ratio of 0.68 and a quick ratio of 1.43. Ero Copper has a 1-year low of C$13.17 and a 1-year high of C$37.35. The business’s 50 day moving average price is C$30.85 and its 200-day moving average price is C$24.23. The firm has a market cap of C$3.60 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of -0.72 and a beta of 1.64.

Ero Copper (TSE:ERO) last posted its earnings results on Tuesday, November 4th. The company reported C$0.27 EPS for the quarter. The firm had revenue of C$246.59 million for the quarter. Ero Copper had a return on equity of 2.24% and a net margin of 3.45%. Research analysts forecast that Ero Copper will post 4.7442244 EPS for the current year.

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.